Lessons to be learnt from Lombard's mistakes

Good corporate governance is critical to influence behaviour, writes David Mayhew.

Undoubtedly, the clanging last month of the prison door behind Rod Petricevic is what the investing public wanted from the prosecutions of directors of failed finance companies.

His knowingly misleading of investors stands in contrast to others convicted so far, notably the Lombard directors, Doug Graham, Bill Jeffries, Michael Reeves and Lawrence Bryant. A contrast between the cynical and the hapless, perhaps?

Given the Lombard directors are appealing conviction, notwithstanding not being sent to prison, what lessons should the lawmakers or the regulators take away from that story? ... READ MORE

Released by the NZHerald - 22 May 2012