Thursday 29 August 2013

New Zealand: Financial Markets Conduct Bill receives third reading

The Financial Markets Conduct Bill received its third reading in Parliament yesterday. A draft of the third reading debate is available here. Royal assent is now required for the Bill to become law. The new Act will replace several Acts, including the Securities Act 1978, with the aim of reforming the regulation of financial conduct. It contains rules covering the way financial products are offered, promoted, issued and sold, and the continuing responsibilities of those who offer, issue, manage, supervise, deal in and trade them. An overview of the Bill's provisions is available here. Draft Regulations will be published in the autumn.

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