Legislation/In Parliament

Progress on non-bank finance sector review
The Government will soon develop options for reform as part of a wide-ranging review of how non-bank financial products and providers are regulated.

New insolvency legislation imminent
New laws, expected to be passed soon, may necessitate changes to creditors' documentation and default-related processes (particularly those applying to companies).

Changes ahead for brokers and other financial intermediaries
The Task Force on the Regulation of Financial Intermediaries has delivered its final report to the Government with recommendations for reform.

Australia/New Zealand business law co-ordination review announced
The Memorandum of Understanding between the Australian and New Zealand governments on business law co-ordination has reached its five-year review point.

Anti-money laundering and anti-terrorist financing regulation to be increased
In August, the Minister of Justice reiterated the need for New Zealand to tighten its safeguards against money laundering and terrorist financing.

Balancing consumer protection and regulatory costs
The Ministry of Consumer Affairs has started a review of the pros and cons of "industry-led regulation".

Enquiries and information

For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.