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MED News
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1 July 2014

Craig Foss | Commerce

Commerce and Consumer Affairs Minister Craig Foss today welcomed a range of new measures to strengthen the financial service provider registration and dispute resolution regime. “We have made improvements to the financial service provider registration rules and introduced new powers to allow the Financial Markets Authority (FMA) to block the registration of financial service providers if needed,” Mr Foss says. “The registration changes will help prevent misuse of the register by dodgy individuals trying to exploit New Zealand’s good name. ...

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1 July 2014

Steven Joyce | Communications and Information Technology

Government-owned company Research and Educational Advanced Network New Zealand Ltd (REANNZ) has entered into a $65 million anchor tenancy contract with Hawaiki Cable Ltd for its proposed new international telecommunications cable, Science and Innovation Minister Steven Joyce and Communications and Information Technology Minister Amy Adams announced today. The Government’s whole of contract contribution secures a 25-year anchor tenancy on the cable for REANNZ, which operates New Zealand’s high-performance research and education broadband network. ...

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1 July 2014

Craig Foss | Commerce

Commerce Minister Craig Foss says nine KiwiSaver default providers start their seven year appointment today, offering lower fees for investors. The default providers - AMP, ANZ, ASB, BNZ, Grosvenor, Kiwi Wealth, Mercer, Fisher Funds and Westpac - were appointed in March after a competitive tender process and assessment by an independent panel. “A default fund aims to provide stable returns and build confidence while members consider what type of investment best suits their individual circumstances,” Mr Foss says. ...

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30 June 2014

Nick Smith | Commerce

Import tariffs on a range of building products will be temporarily suspended from tomorrow – a measure which is expected to reduce housing costs and increase competition in the residential construction sector, Housing Minister Dr Nick Smith and Commerce Minister Craig Foss announced this afternoon. ...

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24 June 2014

Craig Foss | Commerce

Commerce Minister Craig Foss today welcomed the passing of a bill to protect New Zealand’s international reputation as a trusted place to do business. ...

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24 June 2014

Craig Foss | Commerce

Commerce Minister Craig Foss today announced appointments to the Testing Laboratory Registration Council, Standards Council and board of the Joint Accreditation System of Australia and New Zealand (JAS-ANZ). Paul Connell has been appointed Chair of the Testing Laboratory Registration Council, while Lindsey Lawton, Howard Duff and John Boshier have been appointed as members. Mr Boshier has also been appointed as a member of the Standards Council. ...

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23 June 2014

Craig Foss | Commerce

We are pleased to announce the cross-appointments of Mr David Oliver Jones MNZM to the Australian Takeovers Panel and Mr Richard Hunt to the New Zealand Takeovers Panel.  Mr Jones is currently the Chair of the New Zealand Takeovers Panel and will now also be a member of the Australian Takeovers Panel. Mr Hunt will join as a member of the New Zealand Takeovers Panel and continue to serve as a member of the Australian Takeovers Panel. ...

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20 June 2014

Amy Adams | Communications and Information Technology

Communications and Information Technology Minister Amy Adams has today announced more than 100 licences for AM and FM radio broadcasting will be auctioned later this year. All licences will be auctioned as commercial licences with tenure up to 2031. A number of the current commercial licences had been allocated temporarily and will expire in September, before the auction takes place.  Transitional arrangements for these licence holders will be advised shortly. ...

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19 June 2014

Amy Adams | Communications and Information Technology

Communications and Information Technology Minister Amy Adams today announced the auction of the 700 MHz band of radio spectrum has now been completed, with specific frequencies assigned to successful bidders Telecom, Vodafone and 2degrees. The assignment auction was the final phase of the auction, held to determine the exact positions (frequencies) that each bidder will acquire in the 700 MHz band.  ...

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16 June 2014

Craig Foss | Consumer Affairs

Consumer Affairs Minister Craig Foss says changes to consumer law coming into effect today will strengthen consumer rights across all types of transactions. “Key changes under the Consumer Law Reform Bill swing into action today. Consumers will have the same rights when purchasing goods and services regardless of whether they buy online, in a store, by auction, over the phone, at home or anywhere else,” Mr Foss says. ...

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