Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Securities Commission And The Takovers Panel

Functions Of The Securities Commission And The Takeovers Panel

Commerce Minister Paul Swain has welcomed the release of a discussion document reviewing the functions of the Securities Commission and Takeovers Panel.

"One of the government's key objectives is promoting confidence in the New Zealand sharemarket," Paul Swain said.

"The government has already made decisions to toughen up our securities law and improve confidence in the market.

"The Takeovers Code will come into effect on 1 July 2001, we have announced improvements to the detection, prevention and enforcement of our insider trading regime and a fundamental review of insider trading law, market manipulation law and criminal penalties is currently underway.

"This review now focuses on the effectiveness of the bodies that regulate our securities market.

“Effective regulatory bodies can improve confidence in the market by acting as a deterrent against undesirable practices and giving confidence to international and domestic investors that the rules are enforced and the integrity of the New Zealand market is maintained

“This review will be an important step towards ensuring that the institutions that enforce New Zealand securities law are robust and provide adequate protection from illegal practices.

"The discussion document seeks views from submitters on a range of things including how the functions of the Securities Commission and Takeovers Panel could be improved.

"It also looks at the costs and benefits of the regulators carrying out both enforcement and law reform functions.

"It is intended that any legislative change that results from this review will come before parliament later this year, at the same time as legislative change to improve the enforcement, prevention and detection of insider trading," Paul Swain said.

Anyone wishing to comment on the Review of the Functions of the Securities Commission and Takeovers Panel discussion document may do so by making a written submission. Interested parties should contact Kirstie Drake on (04) 474 2887 or by email on kirstie.drake@med.govt.nz if they wish to receive a copy of the discussion document. An electronic copy is also available on: http://www.med.govt.nz/buslt/bus_pol/bus_law/sctpreview/index.html

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Bridges’ ‘Meth Crooks’ Leadership Failure

Back in June, Bridges publicly accepted that Housing NZ had got it wrong, and that the National government had acted upon bad advice.

Now, you’d think this admission would create a broad bi-partisan basis for compensation to those families who had been unfairly evicted, at considerable cost and emotional distress. Some people had lost their possessions in trying to meet the expense of the upheaval.

Not everyone felt so compassionate. More>>

 

Multimedia & Transcript: Acting PM's Press Conference

Winston Peters, Acting Prime Minister while Jacinda Ardern is in New York for the UN Leaders' Week, held a short press conference Monday after chairing this week's cabinet meeting. More>>

General Assembly: Ardern Rejects Trump Call For War On Drugs

New Zealand will not be signing the United States' document calling for global action on the war on drugs, Prime Minister Jacinda Ardern says. Ms Ardern is in New York for the United Nations General Assembly this week, along with about 140 other world leaders. More>>

ALSO:

Pay Equity: Cabinet Funds Deal For Oranga Tamariki Social Workers

The Minister said that an agreement in principle has been reached between Oranga Tamariki and the PSA on a settlement worth $114.6m over five years. More>>

ALSO:

Hunting v Pest Control: Tahr Control Needed To Protect Alpine Habitats

A cull of introduced Himalayan tahr browsing conservation land in Kā Tiritiri o Te Moana/ the Southern Alps is needed to protect special alpine plants and their habitats, Conservation Minister, Eugenie Sage said. More>>

ALSO:

Protest At Sea: Judge Discharges Greenpeace Activists

The judge today discharged Norman and Howell without conviction, saying the cumulative consequences of a conviction would be out of proportion to what was “low level” offending off the Wairarapa coast in April 2017. More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels