Xero and financial data disclosure

Jenny Ruth writes at NBR:

Will Xero [NZX: XRO] protect your financial data from prying government eyes, unless it’s legally compelled to spill the beans?

NBR simply can’t say.

NBR has been trying to find out since Rodney Hide’s column on the issue was published in early November.

That Hidesight column detailed how Xero provided the Official Assignee with access to the company records of the spouse of a bankrupt without her knowledge.

Reportedly, Xero then denied doing that when she asked whether her records had been accessed.

The case relates to bankrupt Dave Henderson and his wife, Kristina Buxton. They are friends of Mr Hide.

The column raised a number of questions about the circumstances in which Xero will provide information to officials and, if it does, whether it will tell the affected customer and whether it will even tell that customer if she asks.

It seems reasonable to have Xero clarify what their policy is.

Xero’s reply, printed on NBR’s website the day the column was published, raised even more questions.

It said the column was factually incorrect but didn’t say which facts were wrong.

“We have acted entirely appropriately and according to law and provided what we considered to be the minimum information required under the law,” Xero said.

That’s a non-answer.