News and releases

The Government planned responding to the retirement income policy review this year, but is taking further time to consider New Zealand’s retirement settings in light of the impacts of COVID-19.

The Ministry of Business, Innovation and Employment is today reinforcing that safe working practices are critical to operating within Alert Level 2 and Alert Level 3 and that businesses must self-assess what they need to do to mitigate the risk of COVID-19 transmission.

The Ministry of Business, Innovation and Employment (MBIE) has released a discussion document to seek feedback on a small number of outstanding issues in the Plant Variety Rights (PVR) Act review.

The Ministry of Business, Innovation and Employment (MBIE) has released a discussion document on options for establishing a consumer data right that would better meet the needs of consumers and allow them to harness the power of their data.

The Government has confirmed the updates to the Financial Markets Authority (FMA) levy to implement increases in the FMA’s funding, including confirming the levies that will apply for the new financial advice regime.

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.

New measures that protect consumers who borrow from high-cost lenders and mobile traders came into effect on 1 June 2020.

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 is progressing with changes to insolvency and company law through the COVID-19 Response (Further Management Measures) Legislation Bill, which has been introduced to Parliament.