Recent developments

CCCFA - revised draft credit fees guidelines released
The Commerce Commission has released revised draft guidelines outlining its enforcement approach to credit fees under the Credit Contracts and Consumer Finance Act.

Capital market recommendations progressing
The Government has released a progress report on its response to the recommendations made by the Capital Market Development Taskforce.

Government to improve KiwiSaver regulation
The Government has announced its intention to make changes to improve the governance and management of KiwiSaver schemes.

The regulatory landscape - what needs to change
Chair of the Securities Commission, Jane Diplock gave a presentation addressing the gaps in the current regulatory framework and the need for reform.

Report on Cycle 11 of the Financial Reporting Surveillance Programme
The Securities Commission has released its findings from Cycle 11 of its Financial Reporting Surveillance Programme.

Credit ratings mandatory for non-bank deposit takers
The Reserve Bank has announced that credit ratings are now mandatory for non-bank deposit takers.

Wholesale guarantee facility closed
The New Zealand Wholesale Guarantee Facility closed at the end of April, but the Retail Deposit Guarantee Scheme continues to operate.

Government moves to reduce aircraft financing costs
New Zealand is to become a party to the Cape Town Convention and associated Aircraft Protocol, which is intended to reduce finance costs for companies purchasing and leasing aircraft.

Changes coming to the Companies Office
The Companies Office is replacing its current IT system with a purpose-built platform called "Enterprise".

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.