MEDIA RELEASE (NZ)

Chartered Accountants Australia and New Zealand (CA ANZ) welcome the New Zealand Government's decision to consult on the next phase of capital market reforms and looks forward to contributing to the discussion on how New Zealand can strengthen the flow of capital throughout the economy.

"New Zealand's capital markets are underpinned by a regulatory framework that has generally served investors and businesses well, supporting confidence, transparency and trust. However, as markets evolve and businesses access capital in different ways, it is appropriate to consider whether some settings can be modernised to reduce unnecessary costs, improve access to funding while maintaining appropriate investor protections,” said CA ANZ NZ Country Head Peter Vial FCA.

"Getting the balance right is important. Companies need efficient access to capital to invest, innovate and grow. Investors need clear, workable protections and high-quality information to make informed decisions. And New Zealand needs a strong and sustainable audit profession that can continue to provide the independent assurance that underpins confidence in our markets.

"We support a considered, system-wide approach to reform that looks at how different parts of the regulatory framework interact. Changes should not be viewed in isolation. Well-designed reforms can help improve capital formation, support business growth at all stages of development, and ultimately contribute to a more productive and prosperous New Zealand economy.

"The discussion document proposes reforms across a number of areas, including auditor liability, disclosure requirements, wholesale investor settings and pathways for emerging businesses to access capital. We welcome the opportunity to engage constructively on these proposals and will be providing feedback informed by the expertise and experience of our 31,000 members across New Zealand," said Mr Vial.