UPDATE: Reform of securities trading legislation

Targeted consultation on the Securities Law Reform Bill was expected to commence after the Easter break.

The final part of a four-stage programme to improve the confidence of domestic and international investors in the New Zealand markets is to review the Securities Act 1978. The Ministry of Economic Development will begin the review later this year. It will look at the way offerings of securities are made, the possible licensing of financial intermediaries, transfer of securities, verification and monitoring of securities, the treatment of collective investment schemes such as unit trusts, and contributory mortgages.

The Government has indicated that it will give high priority to this legislation and hopes to introduce it into the House in the third quarter this year.

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.