Releases

Commerce and Consumer Affairs Minister Paul Goldsmith has today released part one of the review into insolvency law, which discusses and sets out recommendations on the regulation of insolvency practitioners and measures to address the harms of voluntary liquidations. “I set up the Insolvency Working Group in November 2015 to conduct an in-depth look into a variety of insolvency law matters. “This is the first of two reports the working group will publish and it has identified a number of areas where our corporate insolvency laws could be improved. ...

Commerce and Consumer Affairs Minister Paul Goldsmith is encouraging people to have their say on retirement savings and bankruptcy. “Bankrupt persons’ retirement savings are currently given uneven treatment, meaning some bankrupts’ retirement savings are released to repay creditors while other bankrupts are allowed to retain their retirement savings,” says Mr Goldsmith. ...

Commerce and Consumer Affairs Minister Paul Goldsmith has called for submissions on the reviews of Financial Markets Authority (FMA) funding, the FMA levy, the External Reporting Board levy (XRB) and New Zealand Companies Office fees. “The FMA requires sufficient funding to carry out its statutory responsibilities and maintain confidence in New Zealand’s financial markets,” says Mr Goldsmith. ...

Commerce and Consumer Affairs Minister Paul Goldsmith has announced three appointments to the Takeovers Panel, the regulator of the corporate takeovers market. The appointments will take effect on 1 October. Andy Coupe, who is currently Deputy Chairperson, has been appointed Chairperson. “Mr Coupe has made a valuable contribution to the Panel over the years with his commercial and capital markets background. The Panel’s work is highly regarded and I am confident this will continue under Mr Coupe’s leadership,” Mr Goldsmith says. ...

Commerce and Consumer Affairs Minister Paul Goldsmith has announced plans for changes to the Financial Advisers Act (FAA) and the Financial Service Providers Act (FSPA). “The changes come after a comprehensive review, which will simplify regulation, enable advisers to have sensible conversations and encourage more people to seek high quality advice tailored to their needs. ...