Recent developments

New Zealand's angel capital market
A market study has identified individuals in New Zealand willing to provide equity investment and management expertise to fledgling businesses.

Stable platform of financial standards
The Accounting Standards Review Board has announced the establishment of a stable platform of New Zealand equivalents to the international financial reporting standards.

Historical financial information in offer documents
The Securities Commission has published a draft practice note about the presentation of historical financial information in offer documents during the transition period to New Zealand's equivalent to International Financial Reporting Standards.

Westpac to incorporate in New Zealand
The Reserve Bank has confirmed Westpac Banking Corporation's decision to incorporate in New Zealand.

Should online securities traders be subject to the Securities Markets Act?
Commerce Minister Margaret Wilson has written a letter to online securities trader Unlisted, outlining why she thinks it should be subject to the Securities Markets Act.

Enquiries and information

For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.