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More on the Securities Commission

04/10/2009

Again from Pundit, this time David Beatson suggesting that John Key needs to apply some focus to issues. In addition Beatson notes what he calls an under reported review of the role of the Securities Commission.

This is of interest to Adam given a series of posts he made some months ago beginning with ‘Is the Securities Commission ‘Missing in Action’? and five further posts similarly titled with numbering from #2 to #6

Beatson highlighted some comments from the review, this one caught Adam’s eye in particular:-

“We conclude that the main constraints on the Commission’s effectiveness lie outside its direct control. They stem from weaknesses in the current legislation, the Commission’s narrow mandate and lack of powers, the proliferation of regulatory bodies, inadequate resourcing, and bottlenecks in the judicial process.”

It will be very interesting to see what happens to the review and just what action Simon Power takes in this area.

Patrick Smellie filed a report at Scoop and included as well reference to a KPMG report, which it appears Beatson may have overlooked.

For interested readers the Prada-Walter report is here. The KPMG report appears to be the Baseline Funding Review as of Feb 2009, but on the MED website as updated 23 September 2009.

Further comment once Adam has had some time to read and digest the reports.

He will be interested to see what others have to say, for example Cactus Kate who commented in this area recently and others such as lawyer Stephen Franks.

2 Comments
  1. Cactus Kate permalink
    06/10/2009 04:18

    Haven’t had time to read it.

    Like

  2. 04/10/2009 20:42

    Keep your eyes peeled on this one Adam – there’s going to be a lot going on here once the minister announces his discussion document on the Securities Act overhaul later this year….

    PB.

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