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Directors and Officers Disclosure Review

Hon Lianne Dalziel
Minister of Commerce, Minister for Small Business,
Minister of Women’s Affairs, MP for Christchurch East

29 May 2006 Media Statement

Directors and Officers Disclosure Review


Commerce Minister Lianne Dalziel today announced a review of the directors’ and officers’ disclosure obligations in the Securities Markets Act.

“Over the last few months I, as well as officials, have received feedback from the market that disclosure obligations are harder for companies to comply with than was originally anticipated, particularly in relation to officer disclosure. The intention of the review is to see if we can lighten that burden,” Lianne Dalziel said.

“This is another example of the Labour-led government’s commitment to ensuring regulation is supportive of the government’s economic transformation agenda and is not unnecessarily constraining economic growth, as outlined in the Quality Regulation Review I announced last week.

“It is about listening to suggestions from business that improve the regulatory environment and taking action by considering what improvements can be made,” Lianne Dalziel said.

Policy proposals will be announced after consultation with the industry. Discussions will also be held with the Australian government, which is also reviewing law in this area, and a comparative analysis of overseas jurisdictions will also be undertaken.

ENDS

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