Financial Services Quarterly
Legislation/In Parliament
Review of the statutory framework for financial reporting
The Ministry of Economic Development has released copies of the 147 submissions it received on its Statutory Framework for Financial Reporting discussion document.
Government responds to Capital Market Development Taskforce recommendations
The Government has prepared an action plan in response to the 60 recommendations made by the taskforce.
Amendments to financial advisers legislation introduced
The Financial Services Providers (Pre-Implementation Adjustments) Bill, which amends the Financial Service Providers (Registration and Dispute Resolution) Act and the Financial Advisers Act, was introduced in to Parliament in December.
Submissions on the review of the operation of the CCCFA
In September 2009, the Ministry of Consumer Affairs released the discussion document: Review of the Operation of the Credit Contracts and Consumer Finance Act 2003.
Anti-Money Laundering and Countering Financing of Terrorism Regulations Discussion Document
The Ministry of Justice has released an informal discussion document on regulations and codes of practice under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
Retail deposit scheme deeds replaced
Treasury has issued replacement Crown guarantee deeds to make the Retail Deposit Guarantee Scheme more flexible for deposit taking institutions, while continuing to protect current depositors.
Securities Trustees and Statutory Supervisors Bill
A bill that requires corporate trustees and certain statutory supervisors to be licensed was introduced in to Parliament in December .
New regulations for moratorium proposals
Debt issuers, including finance companies, dealing with moratorium proposals now face tougher measures.
"Key" reforms – what's left
John Key's recent opening speech to Parliament outlined the Government's proposed economic reforms for 2010, including the proposed tax reform to be revealed in this year's Budget.
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.
Disclaimer
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
