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19 February 2003
ADVERTISEMENT
Members of the Securities Commission
The Minister of Commerce is seeking expressions of interest from people wishing to be considered for appointment as Members of the Securities Commission.
The Commission is established under the Securities Act 1978. It consists of between 5 and 10 members appointed by the Governor-General on the recommendation of the Minister of Commerce. Its statutory functions include: reviewing and making enquiries into market practices, a supervisory role in relation to securities exchanges, granting exemptions from securities law and promoting public understanding of the law and practices relating to securities and co-operating with overseas regulators.
The Commission seeks to facilitate private capital investment in New Zealand by:
- promoting the efficiency of New Zealand securities markets;
- enhancing the integrity of these markets;
- promoting the cost-effective regulation of these markets; and
- strengthening public and institutional confidence in these markets both in New Zealand and overseas.
In doing so, the Commission directs its work, among other things, to promoting:
- good standards of disclosure;
- reliable and ethical procedures for effecting transactions;
- flexibility in the development of best regulatory practice;
- sound principles for market regulation;
- cost-effective rules of law;
- improved compliance with the law;
- good working relationships with overseas regulators and
- public understanding of the law and practices of securities.
To be eligible for appointment as a Member of the Commission, a person must be qualified or experienced in industry, commerce, economics, law, accountancy, public administration, or securities. Members will be appointed after a review of the qualifications, skills and experience of interested persons.
The position is not full time. It is likely to involve an average of 3 days work each month. Remuneration is set by the Higher Salaries Commission. The maximum term of appointment is 5 years. Members may be re-appointed.
If further information is required, confidential enquiries may be made to Ms Jane Diplock, Chair of the Commission, on 04-472 9830.
Application information is available from Meredith O'Brien on 04-474 2619 or meredith.o'brien@med.govt.nz. Please send your application to Advisor Crown Entities, Regulatory and Competition Policy Branch, Ministry of Economic Development, P.O. Box 1473, Level 9, 33 Bowen Street, Wellington, on or before 5pm, Thursday 20 March 2003.