Past work and older topics
Following reports of alleged fraud involving franchises, a review of franchising regulation was initiated by the Minister of Commerce.
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.
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.
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.
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.
The review of financial products and providers was carried out from 2005 until 2008.
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 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.
The Securities Regulations 2009 were made on 24 August 2009 and replace the Securities Regulations 1983.
These regulations amend the Securities Regulations 1983 to provide additional clauses that are deemed to be included in the trust deeds of finance companies.
On 1 August 2005, Hon Pete Hodgson announced his decision not to regulate the unlisted securities trading facility.