4 May 2011
The Government has a golden opportunity in this year's Budget on 19 May to continue to build trust in New Zealand's financial markets by not tinkering with KiwiSaver benefits. Workplace Savings NZ Chairman David Ireland says the industry considers it highly likely that KiwiSaver incentives are at the top of the list of the Government's savings targets in the upcoming Budget, and another casualty might be the first home deposit subsidy from Housing New Zealand.
2 May 2011
The Financial Markets Authority officially opened for business today, almost a year to the day after Commerce Minister Simon Power announced its formation. The FMA takes over the functions of the Securities Commission and Government Actuary which are being disestablished, and consolidates other regulatory functions from the Ministry of Economic Development.
3 March 2011
The new market "super regulator" is set to be able to force anyone making unsolicited approaches to buy shares to reveal to investors how much shares are worth on the open market.
2 March 2011
The Commerce Select Committee has today released its report on Financial Markets (Regulators and KiwiSaver) Bill. The Select Committee has recommended that the Bill be passed, but with some notable amendments. It is expected to pass through its final stages of the Parliamentary process later this month. Click here to access this report.
2 March 2011
Commerce Minister Simon Power today welcomed the report-back by the Commerce Select Committee on legislation to establish the Financial Markets Authority (FMA) and to improve governance of KiwiSaver schemes.
9 February 2011
Cabinet has approved the appointment of Simon Allen as chair of the soon-to-be established Financial Markets Authority, Commerce Minister Simon Power announced today.
27 May 2010
Brook Asset Management founder Simon Botherway will chair the Establishment Board of the new integrated market regulator, the Financial Markets Authority (FMA).