Financial Implications
56. I am seeking Cabinet approval for design work on a co-regulatory framework for financial intermediaries. This may have some costs for government (please refer to the attached work-in-progress regulatory impact statement), but some costs may also be borne by APBs and consumers. Ministry officials would work through the various costing options and I anticipate returning to Cabinet with details of these costs in mid to late 2006 when I come back with the proposed regulatory changes.
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