Financial Services Legislation Amendment Bill- First Reading – Video 4
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Financial Services Legislation Amendment Bill- First Reading – Video 4


in this bill to the house and look forward to the next stage of its tonight Mr Speaker I call Andrew Bailey Oh Thank You mr. speaker and as a pleasure to be talking on this first reading of the financial services legislation amendment bill and I just want to take the opportunity to congratulate the new minister honorable powerful Christopher foyer for taking over the portfolio of commerce & Co as my colleague honorable Chris Ferguson noted this is a particularly important portfolio and I’m just glad that he can draw on his extensive commercial experience in framing up and promoting and driving through some of the essential commercial changes we see need to see occur in New Zealand over the next few years I just just before I get into this a key egg they were built I should say I just want to remind the last speaker mr. Michael Wood who of course talked about the Honorable early end desert and her contribution to reforming the financial markets I do note that she resigned and was succeeded by the Honorable Simon pear and I think your sense of history is disproportionate to what has happened in terms of the contribution in terms of driving through reforms into this area of the market I think the members should remind himself of what happened and some of the key changes that took place under the national government and one of those of course was the formation of the Financial Markets Authority which came into play in 2011 and what a great job that was and then we had the introduction of the financial markets Conduct Act in 2013 and for those who haven’t been involved in the sector as I have those changes those changes brought about substantial improvement so that investors knew that they were getting the type of a vest investment advice that they deserve and of course this bill have to say that they’re more recently so the good work of my other colleague dr. poore goldsmith this change that this government over here is seeking to adopt and blended as as of its their own which in fact is not the case because they’re honorable Paul Goldsmith spent two long years working through the details that these guys are now trying to capture and understand and that’s why we have such a good bill to talk about today mr. speaker and then of course honourable Jackie Dean’s contribution so I am looking forward to being part of this debate mr. speaker working through the good things that this bill seeks to achieve which is making sure that investors get access to good quality investment advice I call genève Markoff Tanakh where mr. speaker New Zealand first supports

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