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Current business law work

Accounting reforms in 2014 and 2015

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.

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Asia Region Funds Passport

New Zealand is working with a number of other APEC economies to explore the development of a managed funds passport for the Asia region.

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Auditor liability

Cabinet has agreed that MBIE will carry out work in 2015 on whether to introduce liability caps for large or complex audits.

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Changes to KiwiSaver

The Government has undertaken a number of reforms in relation to KiwiSaver. These include improving governance and disclosure, and a review of default providers.

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Companies Act changes

The Companies Amendment Act (No 4) 2014 and the Limited Partnerships Amendment Act (No 2) 2014 were passed into law on 24 June 2014.

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Financial Adviser Regulations: Discretionary Investment Management Services and Custody

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.

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Financial Markets Conduct Act

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.

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Financial service provider registration changes

Cabinet had agreed to measures to strengthen the financial service providers registration regime.

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Insolvency Practitioners Bill

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.

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Single Economic Market outcomes agenda

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.

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Approved Dispute Resolution Schemes: Minimum Compensation Cap for Insurance Disputes

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.

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Last updated 3 March 2015