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


Debt capital raising simplified

Debt capital raising simplified

Commerce Minister Craig Foss today announced further steps to simplify and encourage participation in New Zealand’s capital markets.

“Cabinet this week signed off on a number of policy decisions to come into force under the Financial Market Conduct Act on December 1,” Mr Foss says.

“The decisions include new disclosure requirements to improve investor literacy, confidence and participation in financial markets.

“Disclosure will be standardised, simplified and tailored for retail investors – enabling easier comparison of managed funds across providers. This means material unlikely to be read and understood by investors will be removed and made available online.”

Mr Foss says Cabinet also decided to extend the same-class debt exemption to offers of debt securities with different terms.

“I am confident these changes will further reduce compliance costs for debt issuers and expand the availability of debt investments on the retail market.”

To help existing market participants comply with the new law, operators of unregistered markets will have until 1 December 2015 to obtain a financial market product license.

“The Financial Markets Conduct Act is a key pillar in the Government’s Business Growth Agenda. It will introduce a new era of financial market regulation that ensures investors are better informed and offered better protections,” Mr Foss says.

For more information: www.med.govt.nz/business/business-law/current-business-law-work/financial-markets-conduct-act


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news