Parliament

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

 

Drive to complete capital markets overhaul


27 February 2013

Media Statement

Drive to complete capital markets overhaul

Commerce Minister Craig Foss says the Government is progressing a comprehensive set of reforms this year to restore investor confidence and encourage investment.

“From street corner loan sharks to large investment funds, the Government is rewriting the rules for the full spectrum of credit and investment law. This regulatory overhaul will help restore investor and consumer confidence.

“The Business Growth Agenda Building Capital Markets report released today outlines the Government’s plan to ensure investors are better informed and offered better protections. The rules are being made clearer and those who break the rules will be held to account.

“In the coming months we intend to pass the Financial Markets Conduct Bill which will result in a total rewrite of securities law. Consumer credit reforms will be introduced and simplified disclosure requirements for KiwiSaver providers will be released.

“The Government has established the Financial Markets Authority, regulated financial service providers and introduced licensing and monitoring of trustees,” says Mr Foss.

Mr Foss says improved financial literacy is an important step in building confidence in capital markets.

“Regulations are just one part of the equation. Along with better rules and protections, we need to improve financial literacy so consumers and investors can make informed judgements and decisions on the use and management of their money,” says Mr Foss.

The report is available at www.mbie.govt.nz/bga

ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Full Coverage: Budget 2017

Budget 2017 will be announced from 2pm.

Scoop has compiled pre-budget information and reaction, and will update with Budget announcements, reaction and analysis once the Budget is released. More>>

 
 

Auditor-General Stands Down For Investigation: Gordon Campbell On (Not) Taking Responsibility

So Martin Matthews, our current Auditor-General wishes he could have detected “earlier” the fraud that occurred on his watch at the Ministry of Transport. Hmmm. But he could have detected it earlier, surely? That’s the point. More>>

ALSO:

NGOs Pleased: Govt To Halt Collection Of Client Data

Brenda Pilott, the chair of ComVoices and national manager of Social Service Providers Aotearoa, congratulates the government on its decision to call a halt to the collection of individual client data until the concerns of not-for-profit service providers have been worked through. More>>

ALSO:

Gosh: Blasphemy Law Repeal Struck Down

Chris Hipkins, the MP who tabled a Supplementary Order Paper to add our Blasphemy Law to the Statutes Repeal Bill, said this was a "sad day for freedom of speech, tolerance, and leadership". More>>

ALSO:

Gordon Campbell: On The Navy’s Dealings With Fat Leonard, And Twin Peaks

At an official level, our “she’ll be right” attitude routinely spills over into a keen resentment of anyone who suggests the outcomes may be less than satisfactory… The Navy has now gone one step beyond. It won’t even ask itself whether it did a good job. More>>

ALSO:

NZDF: Fifth Rotation Of Troops Heads To Iraq

The fifth rotation of New Zealand Defence Force troops left today for a six-month mission training Iraqi soldiers. More>>

ALSO:

Gordon Campbell: On The Demonising Of Iran

Will New Zealand still be willing to pursue its recent trade overtures to Iran, now that US President Donald Trump has used his speech in Riyadh to single out Iran as the main source of terrorism and instability in the Middle East? More>>

ALSO:

 
 
 
 

Opening The Election Supporters

 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election