The Importance of Disclosure

In today’s Dominion Post a column was published by Rob McLeod in his role as Chairman of the NZ Business Roundtable. It argued against any further regulation of Telecom. And I have no doubt this is the honest opinion of the Business Roundtable who show an admirable consistency on these issues.

How-ever it was a major error for there to have been no disclosure that Mr McLeod is also a Director of Telecom. This information is of vital importance as directors are legally obliged to act in the bests interests of companies they are directors of.

Now I am a huge fan of the contribution Rob McLeod makes to New Zealand. I am not suggesting he personally has acted improperly. He may not have realised the column would not mention his Telecom directorship (as it may have been submitted by staff) and likewise there is a responsibility on the Dominion Post itself to make sure full disclosure is supplied.

But there can be no doubt that the public have a right to know that an opinion piece arguing against further regulation of Telecom was written by a Director of Telecom. Public debate is not well served by such omissions, even when accidental as I am sure this one was.