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

 


Feedback sought on disclosure statements

20 May 2014

Feedback sought on disclosure statements

Commerce Minister Craig Foss is welcoming feedback on the content of financial product disclosure statements.

The third exposure draft of regulations under the Financial Markets Conduct Act 2013 was today released for public consultation.

“The Government is continuing to drive a cultural change within the finance sector with a renewed focus on simple, meaningful and more accessible information for investors,” Mr Foss says.

“One proposed regulation limits the length of product disclosure statements to 60 pages for equity products, including IPOs, 30 pages for debt products and 12 pages for KiwiSaver and other managed funds.”

The information investors receive in a product disclosure statement will be supplemented by an online register of financial offers, where investors can find further information.

Mr Foss says the successful implementation of the Financial Markets Conduct Act will build high-performing capital markets.

“This is a key component of the Government’s Business Growth Agenda. Better regulation leads to increased confidence and participation in New Zealand’s capital markets, generating improved outcomes for New Zealand businesses.

“This final consultation round will address any remaining technical issues before the regulations come into force on December 1,” Mr Foss says.

The consultation period closes 20 June 2014.

More information is available on the MBIE website: http://www.med.govt.nz/business/business-law/current-business-law-work/financial-markets-conduct-act


Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Gordon Campbell: On Where Greece Goes From Here

As one candid British commentator tried to come to grips with why his confident prediction of a “Yes” vote in Greece has failed so resoundingly, he said that he’d made that prediction from his own viewpoint – as someone with savings to protect. But most Greek people, he suddenly realised, didn’t have that concern anymore after five years of austerity. Duh. More>>

ALSO:

Post-Cabinet Presser: EQC Reform, Greece & Surplus Stimulation

Prime Minister John key discussed proposals for reform of the EQC act and the Greek economic crisis at a press conference in Wellington. More>>

ALSO:

GCSB/NZSIS: Intelligence And Security Reviewers Seek Public’s Views

“We are seeking public submissions to help us determine what issues to focus on during the review,” says Sir Michael Cullen. “We want to hear your views on what the GCSB and NZSIS should be doing to protect New Zealand and how they should do it.” More>>

Education: Schools Funded To Trial Innovative Approaches

Education Minister Hekia Parata has announced the successful applicants for a new $10 million fund to encourage innovative teaching practices. “I’m delighted with the quality of the 39 projects that have won funding in the first round of the Teacher-led Innovation Fund worth a total of about $2.6 million,” says Ms Parata. More>>

ALSO:

Generation Zero: Skypath Granted Resource Consent

Generation Zero is delighted and relieved that the ‘Skypath’ walking and cycling addition to the Harbour Bridge has been granted resource consent. More>>

ALSO:

Housing: Two New Auckland Special Housing Areas

Two new greenfield Special Housing Areas (SHAs) that will provide up to 1800 new homes in Auckland have been announced today by Building and Housing Minister Dr Nick Smith and Mayor Len Brown. More>>

ALSO:

Royals: The Prince Of Wales And Duchess Of Cornwall To Visit

Prime Minister John Key welcomes today’s announcement that the Prince of Wales and The Duchess of Cornwall will visit New Zealand in November. This will be the second joint visit for Their Royal Highnesses to New Zealand. More>>

ALSO:

Tracey Martin Replaced: Ron Mark Is New New Zealand First Deputy Leader

Clayton Mitchell was the successful candidate for the Associate Whip position. Winston Peters was re-elected as Leader by the Caucus. Ron Mark was elected as the Deputy Leader with effect from 10am, Friday, 3rd July. More>>

ALSO:

Rebuild Rebrand: "Regenerate Christchurch" To Replace CERA

The regeneration of Christchurch will be the city’s focus for the next five years as local leadership progressively takes control of the rebuild, Canterbury Earthquake Recovery Minister Gerry Brownlee says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news