Cabinet Documents

Overview - Cabinet Paper [ Published 13 June 2007 ]
A two phased approach to introducing legislation to implement the findings of the reviews of Financial Products and Providers, and Financial Intermediaries.
Consumer Dispute Resolution and Redress - Cabinet Paper [ Published 13 June 2007 ]
The establishment of a comprehensive, industry-based consumer dispute resolution system, with multiple schemes, where membership of an approved dispute resolution scheme is mandatory for registered financial service providers who transact with consumers.
Regulation of Non-Bank Deposit Takers - Cabinet Paper [ Published 13 June 2007 ]
NBDTs will continue to be supervised by trustee corporations (one-tiered) but licensed by a prudential regulator (the Reserve Bank) and comply with minimum prudential, governance and fit and proper requirements at licensing and on an ongoing basis.
Regulation of Non-Bank Deposit Takers - Addendum Paper [ Published 13 June 2007 ]
The proposed NBDT regulatory arrangements will be applied so that credit unions retain their character while liberalising certain current credit union operational restrictions, and providing depositors with an appropriate level of protection.
Registration of Financial Service Providers - Cabinet Paper [ Published 13 June 2007 ]
All non-bank financial service providers must be registered with the Registrar of Financial Service Providers to provide an initial means of identifying and monitoring financial service providers.
Trustee Supervisory Model - Cabinet Paper [ Published 13 June 2007 ]
Trustees must be licensed. Trustees are retained as "frontline" supervisors of debt issuers, non-bank deposit takers, and collective investments schemes. The Securities Commission will approve trustee licences and monitor them on an ongoing basis.
Arrangements for Prudential Regulation - Cabinet Paper [ Published 13 June 2007 ]
Confirm Cabinet's earlier in principle decision that the Reserve Bank of New Zealand be the prudential supervisor for non-bank deposit takers and insurers and sets out the institutional arrangements to that effect.
Insurance: Contracts, Agency and Assignments - Cabinet Paper [ Published 30 January 2008 ]
The purpose of this paper is to seek agreement to the introduction of a consolidated statutory framework in respect of insurance contracts, insurance intermediaries' agency status, and life insurance policies.