Perry and Cotton reappointed to Securities Commission

Commerce Minister Lianne Dalziel today announced the following reappointments of two members to the Securities Commission, from 12 May 2007:

Joanna Perry as a member for a third term of one year. Annabel Cotton as a member for a second term of five years.

Ms Perry is the Chair of the Financial Reporting Standards Board (FRSB) and has served a 10-year tenure on the Commission. Her membership of both the Trans-Tasman Accounting and Audit Standards Advisory Group and the Australian Accounting Standards Board is helpful to the Commission in dealing with trans-Tasman issues in this area as Australia and New Zealand have both adopted International Financial Reporting Standards. Ms Perry is a director of PSIS, Pod Limited, and Genesis Power Limited.

Ms Cotton advises New Zealand-based listed companies on their investor relations and equity management programmes. She is a director of Genesis Power Limited, and NZSX-listed companies Kingfish Limited and Barramundi Limited, and a number of private companies. Ms Cotton is an investment analyst and accountant.

Background to Appointment to the Securities Commission

The Commission, which is established under the Securities Act, is an independent Crown entity. The Commission is New Zealand’s main regulator of investments. Its role is to strengthen investor confidence and foster capital investment in New Zealand by promoting the efficiency, integrity and cost-effective regulation of our securities markets.

The Governor-General, on the recommendation of the Minister, appoints the ten members of the Commission. When considering appointments, the Act requires the responsible Minister to recommend candidates who have knowledge of, or experience in, industry, commerce, economics, law, accountancy, public administration, or securities. For further information on the Securities Commission, see http://www.seccom.govt.nz

ENDS

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