Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Comment sought on regulating futures dealers

Commission seeks comment on regulating futures dealers

The Securities Commission is reviewing its policy for authorising futures dealers.

Unlike other financial intermediaries, futures dealers must be authorised by the Commission.

The review is prompted by changes in the futures industry in New Zealand including structural changes to the New Zealand Futures and Options Exchange (NZFOE).

SFE Corporation, which owns the NZFOE, plans to move its operations to Australia next year. This raises the question of an appropriate regulatory framework in New Zealand for futures dealers.

“We have put forward a number of models that could form the basis of futures dealers regulation and invite people to comment on these,” Chairman Jane Diplock said. “It is important that the New Zealand futures market is well regulated and has a credible compliance system in place.”

The input from interested parties will help the Commission determine its policy on the matter. When the policy is decided the Commission intends to publish guidelines for dealers who need to apply for authorisation.

The discussion document “Securities Commission Policy in Respect of Futures Dealer Authorisations” is published on and available from the Commission’s offices by phoning (04) 472 9830. Comments should be sent to the Commission by 14 February 2003.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>