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


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Wellington.Scoop: Serco – First The Prisons, And Now It Wants To Run The Trains

As the government continues its inquiry into Serco’s discredited administration of Mt Eden prison in Auckland, here in Wellington there’s further scrutiny of the British outsourcing company – because it’s competing to take over the running of our commuter trains. More>>


Gordon Campbell: On The TPP Countdown, And Mary Margaret O’Hara

To date, the Key government has been unwilling to share any information about this TPP deal until it is too late for outraged public opinion to affect the outcome... the disclosure process is likely to consist of a similarly skewed and careful exercise in spin. More>>


Australia Deportations: English Relaxed On Immigration Centre Conditions

Labour's Annette King: “There have been numerous reports from inside these detention centres on just how bad conditions are... If they were being held in any other foreign jail, I imagine Mr English would be somewhat concerned. More>>


Schools: Achievement-Based Funding Would Be A Disaster

The Education Minister’s speech to the PPTA Conference raising the spectre of achievement data driving a new funding system would be disastrous, says NZEI Te Riu Roa. More>>

  • Video Out-Link - PPTA Annual Conference 2015 on Livestream (Q+A dicussion suggests funding would be directed to less successful schools.)

  • ALSO:

    ECE Report:

    Key In NY: Prime Minister Addresses United Nations

    Prime Minister John Key has addressed the United Nations General Assembly in New York, focusing on a call for action in Syria and on other conflicts, reform of the veto process and on the UN’s Sustainable Development Goals. More>>.


    Gordon Campbell: On The Lack Of Accountability Over Philip Smith

    In New Zealand, accountability is an exotic creature rarely glimpsed at ministerial level, or among senior management. The flight to Rio by the paedophile /murderer Philip John Smith/Traynor is no exception. More>>


    More On Corrections

    Get More From Scoop



    Search Scoop  
    Powered by Vodafone
    NZ independent news