Parliament

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

 

Lower cost option for sending annual reports

Hon Jacqui Dean

Minister of Commerce and Consumer Affairs
15 June 2017 Media Statement

Lower cost option for sending annual reports

Listed companies and other financial markets businesses will now have alternative options for sending annual reports, saving them money and time, says Commerce and Consumer Affairs Minister Jacqui Dean.

“Cabinet has agreed to changes to the Financial Markets Conduct Regulations 2014 which will allow ‘FMC reporting entities’ to reduce the number of annual reports they send,” Ms Dean says.

“This will result in time and cost savings, and a reduction in the amount of paper required.

“Currently companies are required to send to every shareholder a hardcopy of their annual report or a notice asking if the shareholder would like to receive a copy.

“Under the new process they can instead make their annual report publicly available online, after asking shareholders how they would like to receive the reports.

“Those shareholders who would like to receive printed annual reports can still receive one free of charge.

“My fellow MP Matt Doocey introduced a Member’s Bill on this matter late in 2016, noting that digital communication is now the primary means by which investors obtain information on listed companies. Many of the proposals in Mr Doocey’s Bill have now been adopted.

“I Intend to have regulations in place later this year,” Ms Dean says.

A copy of the Cabinet paper outlining the proposed changes is available at the MBIE website:http://www.mbie.govt.nz/info-services/business/business-law/financial-markets-conduct-act/regulations


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Max Rashbrooke: On How To Make Government
More Open

It’s true that New Zealand scores well on many international rankings of openness... Those findings are all important, and welcome. But we cannot ignore the fact that there are still serious problems.

For a start, those international surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

 
 

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>

ALSO:

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

ALSO:

Visions: National Party Conference

National Party leader Bill English today outlined his vision to take New Zealand into the 2020s and his key priorities for the next Parliamentary term – including further raising incomes and reducing taxes. More>>

ALSO:

Ombudsman: Canterbury Schools Reorganisation Mishandled

An investigation into the Canterbury schools reorganisation after the February 2011 earthquakes has found significant gaps and flaws in the Ministry’s engagement and communications with schools and communities. More>>

ALSO:

Law Commission: Contempt Report "Protects Right To Fair Trial"

The proposed Act limits what news media representatives and bloggers can report on court proceedings, but it also makes clearer than the current law where the line is between contempt and freedom of expression. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog