Legislation/In Parliament

Securities Legislation Bill - discussion document released
A discussion document on the Securities Legislation Bill was released by the Ministry of Economic Development in March.

Review of financial products and providers - update
A review of financial products and providers is currently being undertaken by the Ministry of Economic Development.

Significant changes planned for taxing offshore investments
The Government has released details of a revised set of rules for the taxation of investment income of New Zealand investors.

Financial intermediaries: Cabinet agrees to co-regulatory model
Cabinet has agreed to the adoption of a co-regulatory model for regulation of financial intermediaries, where industry-led "approved professional bodies" and the Securities Commission will work together to regulate financial intermediaries.

Financial Reporting Act review
Reform of the Financial Reporting Act is scheduled to take place in December.

Trans-Tasman taskforce takes up the fight against scams
The Australasian Consumer Fraud Taskforce has launched a trans-Tasman campaign to inform consumers about the most common types of scams and how to recognise whether an offer is genuine or false.

Ministers announce key achievements in the trans-Tasman single economic market agenda
A number of measures have been announced to accelerate moves to remove barriers between the New Zealand and Australian economies.

Review of the redress and enforcement provisions of consumer protection law
The Ministry of Consumer Affairs has published an international comparison discussion paper comparing our Fair Trading Act 1986 and Consumer Guarantees Act 1993 with the consumer protection legislation in Australia, Canada, the United States and the United Kingdom.

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.