The Government has set new disclosure requirements to ensure that consumers seeking financial advice can make more informed decisions. It has also set the start date for the new financial advice regime as 15 March 2021.
The Government has agreed on changes to the Commerce Act to ensure New Zealand business can compete on a level playing field, and that competition law remains effective for the long-term benefit of consumers.
The Government is making changes to the Financial Markets Authority’s (FMA) levy to implement an increase in its funding. The funding decision, made through Budget 2020, involves increasing the FMA’s annual operating funding over the next three years.
The Government announced today it will provide interest free loans for a year to small businesses impacted by the COVID-19 response.
Many business have been unable to trade through Level 4 and some remain unable to re-open safely at Alert Level 3. By taking these measures needed to keep all of us safe, some small businesses have no revenue to meet fixed costs.
New Zealand remains in Alert Level 4 and all New Zealanders should continue to stay home to save lives. Only businesses that are essential can operate premises for workers who cannot work from home during the Alert Level 4 period.
The Government has agreed to introduce changes to improve competition in the retail fuel market following the Commerce Commission’s report into the retail fuel market. The changes will be introduced through a Fuel Industry Bill.