Past work and older topics
A new regulatory regime for the audit industry will come into force from 1 July 2012. The Auditor Regulation Act 2011 establishes a co-regulatory oversight regime to regulate auditors and audit firms that undertake issuer audits.
Sub-part 2 of part 2 of the Securities Markets Act 1988 requires directors and officers of a public issuer to disclose relevant interests and dealings in securities of the public issuer and any related body corporate.
We sought feedback on a proposal to require non-bank deposit takers to disclose standardised prudential information.
Background information on the establishment of the Financial Markets Authority, the consolidated market conduct regulator for New Zealand's financial markets.
New levies for the Financial Markets Authority (FMA), External Reporting Board (XRB), and a new fee structure for the Companies Office have been finalised following a thorough consultation period with stakeholders.
The regulatory framework for futures exchanges and clearing and settlement systems has been reviewed to create a more robust legislative framework to meet the expectations of potential international participants and support the introduction of emissions trading markets.
In 2008 amendments were made to the Securities Act 1978 to provide local authorities with an exemption from the full disclosure requirements of that act when issuing debt securities to the public.
On 1 August 2005, Hon Pete Hodgson announced his decision not to regulate the unlisted securities trading facility.
The Securities Markets (Unsolicited Offers) Regulations 2012 came into force on 1 December 2012.
The review of financial products and providers was carried out from 2005 until 2008.
Following reports of alleged fraud involving franchises, a review of franchising regulation was initiated by the Minister of Commerce.
The Review of Securities Trading Law (2002-2008) developed the current provisions of the Securities Markets Act governing insider trading and market manipulation, and disclosure by substantial security holders were developed in this review. The review culiminated in the Securities Markets Amendment Act 2006 (based on the Securities Legislation Bill) and regulations.
The Securities Regulations 2009 have been updated.
These regulations amend the Securities Regulations 1983 to provide additional clauses that are deemed to be included in the trust deeds of finance companies.
The Securities Disclosure and Financial Advisers Amendment Bill aimed to provide greater certainty and reduced costs for businesses raising capital during the global financial crisis.
The Securities Regulations 2009 were made on 24 August 2009 and replace the Securities Regulations 1983.
Cabinet has agreed to the drafting of regulations under the Securities Trustees and Statutory Supervisors Act 2011.
The agreement between the governments of New Zealand and Australia in relation to mutual recognition of securities offerings came into force on 13 June 2008.