The Review Process and Timing
[ Last Updated 2 December 2005 ]
The Task Force will follow an open and consultative process for the review, to be conducted in two stages. The first phase will focus on identifying issues that the Task Fore should focus on under its terms of reference. This will include information gathering, to gain a fuller picture of the nature of the industry, any issues with the current regime, and the sorts of experiences New Zealanders have had with financial intermediaries. The Task Force will be preparing an issues paper for consultation, asking consumers questions, and running a series of focus group discussions to help draw out this information. It will commence this process in December 2004 with views on phase 1 being received by mid February 2005.
The second phase of the review will be around developing and consulting on a range of options for addressing the issues the Task Force decides to focus on arising out of the initial information gathering. As part of the consultative process, the Task Force will publish a discussion paper and conduct a series of consultation meetings to determine which options would best address the issues raised, without imposing unnecessary costs on consumers or intermediaries.
There will be ongoing dialogue with interested parties throughout this process.
The Task Force is due to report back to government by the middle of 2005.
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