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07 June 2007
Update from the Ministry of Economic Development
The following statement was published by the Ministry of Economic Development in its Newsletter on
6 June 2007.
Securities Markets Act Regulations
Regulations under the Securities Markets Act are currently being drafted and are planned to come into effect in the second half of the year.
The regulations will bring the new provisions of the Securities Markets Act (passed as part of the Securities Legislation Bill last year) into force. The regulations will come into force in a phased approach, with those provisions relating to disclosure being promulgated but not coming into effect for two to three months to allow for education and transition.
The regulations developed through ongoing consultation will enhance securities markets through greater transparency and efficiency by:
- easing compliance;
- improving the quality, accessibility, openness and clarity of market trading information;
- bringing greater certainty to the practice of market stabilisation, crossing of trades and short selling; and
- clarifying the obligations of investment advisors.
Any queries can be sent to financialsectorsubmissions@med.govt.nz.
Ends