New Zealand has proposed reforming its derivatives regulation as part of its overhaul of financial legislation. The country has concluded two prominent financial laws are outdated.
New Zealand’s Ministry for Economic Development has proposed introducing a new financial regulatory act to replace the Securities Act 1978 and Securities Markets Act 1988, as well as amending a range of laws.The ministry believes new law is needed because the existing definitions of a security and a futures contract, and of different categories of securities, are...