Crypto operates on the greater fool theory. Because it has little real world use currently, investors are buying it on the premise that they will be able to find someone down the line willing to buy it off them – the greater fool, or some optimist who believes they have found their own golden ticket.
In an increasingly online world, we are sharing and disclosing more and more online, and that information is being held digitally.
New Zealand's attempt to reform it's Privacy Act and make security breaches public has yet to make it through Parliament, though the reform was first proposed in 2014.
Their disclosure obligations in the new trust act will increase the reputational and liability risk of not properly engaging with investment governance practices.
The proposed law changes will mean the right to have the trust properly managed, in accordance with the trust deed, is paramount. Many trustees will need to balance these considerations, and it will be difficult.
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