The Minister of Commerce is seeking a new member for the Securities Commission. The Commission is established under the Securities Act 1978. It consists of between 5 and 10 members appointed by the Governor-General on the recommendation of the Minister of Commerce. Its statutory functions include: reviewing and making enquiries into market practices, a supervisory role in relation to securities exchanges, granting exemptions from securities law, promoting public understanding of the law and practices relating to securities and cooperating with overseas regulators. There is also increasing involvement with the work of the International Organisation of Securities Commissions.
The Commission seeks to facilitate private capital investment in New Zealand by strengthening public and institutional confidence in New Zealand’s capital markets, both in New Zealand and overseas. It does so by promoting:
- the efficiency of these markets;
- their integrity; and
- their cost-effective regulation.
To be eligible for appointment as a member of the Commission, a person must be qualified or experienced in industry, commerce, economics, law, accountancy, public administration, or securities. At this time the Commission requires a member who ideally will have a legal background with a well developed perspective on the operation of securities markets and the relationship of New Zealand markets to international capital markets.
The position is not full time. It is likely to involve an average of 3 days work each month in Wellington. The maximum term of appointment is 5 years. Members may be re-appointed. The fees for members are set by the Remuneration Authority and are currently $1,200 per day.
Confidential enquiries may be made to Jane Diplock, Chair of the Commission, on 04-472 9830.
A Position Description, Declaration Form and CV Form (if required) are available or can be obtained by emailing board.appointment@med.govt.nz
Applications can be posted to:
Meredith O'Brien
Regulatory and Competition Policy Branch
Ministry of Economic Development
PO Box 1473
Wellington
or sent electronically to board.appointment@med.govt.nz with "Securities Commission: Application for 2006" in the subject line.
Applications close on Monday 14 August 2006.
See How to Apply for more details.