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MED News
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8 July 2014

Craig Foss | Consumer Affairs

Consumer Affairs Minister Craig Foss is inviting feedback on the Credit Contracts and Consumer Finance Amendment Act’s Responsible Lending Code. “Rewriting our consumer credit laws was a giant leap forward for lending practices in New Zealand,” Mr Foss says. “Lenders must now operate with skill, care and diligence in all dealings with a borrower throughout the life of a credit contract. ...

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7 July 2014

Craig Foss | Commerce

Commerce Minister Craig Foss today announced he is granting a ministerial exemption to allow NZX to establish a new growth market with an alternative disclosure regime. “An alternative disclosure regime will make it easier for firms to manage their disclosure obligations internally,” Mr Foss says. The exemption, recommended by the Ministry of Business, Innovation and Employment (MBIE), is supported by The Financial Markets Authority (FMA). ...

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4 July 2014

Amy Adams | Communications and Information Technology

Communications and Information Technology Minister Amy Adams has announced that the Korea, Australia and New Zealand (KANZ) Technology Summit will take place in Auckland next week. KANZ is a trilateral Ministerial-led summit involving government, researchers and private sector representatives to discuss digital developments and explore opportunities for collaboration and new business. ...

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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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