Current business law work
The Auditor Regulation Amendment Act 2014, the Financial Reporting Amendment Act 2014, the New Zealand Institute of Chartered Accountants Amendment Act 2014 and the Charities Amendment Act 2014 all received the Royal Assent on 6 November 2014.
New Zealand is working with a number of other APEC economies to explore the development of a managed funds passport for the Asia region.
Cabinet has agreed that MBIE will carry out work in 2015 on whether to introduce liability caps for large or complex audits.
The Government has undertaken a number of reforms in relation to KiwiSaver. These include improving governance and disclosure, and a review of default providers.
The Companies Amendment Act (No 4) 2014 and the Limited Partnerships Amendment Act (No 2) 2014 were passed into law on 24 June 2014.
The Financial Advisers Act 2008, which governs the conduct of financial advisers and brokers, was amended by the passage of the Financial Markets Conduct Act 2013.
The Financial Markets Conduct Act governs how financial products are created, promoted and sold, and the ongoing responsibilities of those who offer, deal and trade them.
Cabinet had agreed to measures to strengthen the financial service providers registration regime.
The Ministry of Economic Development has been working on the Insolvency Practitioners Bill that will require practitioners to join a new register and meet key criteria in order to practice.
Creating a Single Economic Market (SEM) with Australia will enable businesses, consumers, and investors to conduct operations across the Tasman in a seamless regulatory environment.
The Ministry seeks submissions on a proposed increase to the maximum amount of compensation that dispute resolution schemes can award in relation to disputes about real property insurance claims.