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ING - Source: ONE News
A parliamentary bid has begun to get better protection for investors.
Dozens of ING investors turned out in Napier to support the launch of a Private Members Bill.
Labour MP Lianne Dalziel says the bill is designed to ensure investors don't miss out on financial benefits if a regulator takes action against a finance company that has broken the law.
Dalziel says she put the bill together after investors with ING were forced to sign away their rights when one of the company's investment funds was subject to Commerce Commission action.
"Should we let people sign away the rights of an independent regulator to hold a company to account - that's the underlining principal and that's the one that I think is very important," says Dalziel.
But there is no guarantee the legislation will make it before parliament as it has yet to be put into, or drawn, from the Members' Bill ballot.
