23 December 2009

Capital Market Development Taskforce, Prospectus Extensions and New Proposed Licensing Regime for Corporate Trustees

This edition of the NZ Funds Management Update includes articles on the capital market development taskforce proposals, prosectus extensions and new proposed licensing schemes for corporate trustees.
New Zealand Finance and Banking
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This edition of the NZ Funds Management Update includes the following articles:

Capital Market Development Taskforce - Report

The Capital Market Development Taskforce has released its final report outlining its 'blueprint' for developing New Zealand's capital markets.

Prospectus extensions - new exemption notice for Collective Investment Schemes

The Securities Commission has issued a new exemption notice - the Securities Act (Directors' Certificates - Collective Investment Schemes) Exemption Notice 2009 (Notice).

Proposed licensing regime for corporate trustees

Following the recent release of a Cabinet paper, and various reports on the current regime of trustee supervision, the Securities Trustees and Statutory Supervisors Bill (Bill) has been introduced to Parliament. The Bill retains much of the framework agreed by Cabinet in August 2009.

Season's Greetings

Finally, at the conclusion of a year that has raised many market challenges we wish you a safe and happy holiday and look forward to working with you in the New Year.

© DLA Phillips Fox

DLA Phillips Fox is one of the largest legal firms in Australasia and a member of DLA Piper Group, an alliance of independent legal practices. It is a separate and distinct legal entity. For more information visit

This publication is intended as a first point of reference and should not be relied on as a substitute for professional advice. Specialist legal advice should always be sought in relation to any particular circumstances.

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