News & Analysis as of

New Zealand

Public Decision Making Newsletter Winter 2017

by DLA Piper on

This newsletter summarises recent developments in resource management and local government law in New Zealand that are of particular relevance to local authorities and decision makers. In this edition, we address recent...more

OTA & Travel Distribution Update - June 30th, 2017

by Garvey Schubert Barer on

Our weekly OTA & Travel Distribution Update for the week ending June 30, 2017 is below. A mix of stories in this week’s update. Airbnb Continues Its March Toward Mainstream Lodging (SHORT-TERM RENTALS) ("Airbnb signs...more

Final consumer credit fees guidelines

by DLA Piper on

On 30 June 2017 the Commerce Commission released its final guidelines on consumer credit fees. This follows the release of the draft guidelines in September 2016....more

Global Patent Prosecution Highway (GPPH) now available in New Zealand

by FPA Patent Attorneys on

Patent law in New Zealand in recent years has undertaken quite a facelift. For example, under the new law, stricter support requirements are in place, obviousness is now a ground for examination, re-examination is available...more

Locked box: Price protection, not price adjustment

by DLA Piper on

DLA Piper recently launched its 2017 Global M&A Intelligence Report in New Zealand. The report analyses data from over 1,000 deals (over the last three years) including from New Zealand and Australia, and provides unique...more

Review of the Commerce Act - What has been decided?

by DLA Piper on

Cabinet has announced a number of decisions following the targeted review of the Commerce Act undertaken by the Ministry of Business, Innovation and Employment. In this update we look at the announcement, which included a...more

Consultation on personalised robo-advice

by DLA Piper on

As you will be aware from our previous updates on robo-advice, personalised financial advice in New Zealand must be given by a human being. This is limiting the development of robo-advice models in the New Zealand market and...more

Changes to FMC Regulations will relieve annual report distribution burden

by DLA Piper on

The Minister of Commerce and Consumer Affairs has announced changes to be made to the Financial Markets Conduct Regulations 2014 later this year, allowing issuers of certain financial products to make their annual reports...more

Report on rapid growth in P2P lending – what does it mean for New Zealand?

by DLA Piper on

Credit activity on FinTech credit platforms around the world has generated significant interest in financial markets, among policymakers and from the broader public. However, there remains a level of uncertainty as to how...more

FMA's Licensing Overview Report 2017

by DLA Piper on

Some of the key takeaways from the Report include: Finally, the Report sets out four steps to give your application a better chance of success: We expect these observations by FMA will also become relevant to the licensing of...more

New test for reparation topping-up ACC

by DLA Piper on

On 22 May 2017, a company and its director were ordered by the District Court to pay its employee $226,300 to top-up ACC in respect of future loss of earnings as a result of his being rendered a tetraplegic by a workplace...more

FMA Consultation: Proposed guidance on substantial product holder disclosures

by DLA Piper on

The Financial Markets Conduct Act (Act) requires people with a substantial holding (ie 5% or more) in a listed company to disclose their interests and certain changes to their interests in that listed enterprise. The form and...more

More regulation in the pipeline for supervisors, custodians and wholesale managers?

by DLA Piper on

The last assessment in 2003/2004 by the International Monetary Fund (IMF) identified a number of material deficiencies in New Zealand’s framework for securities regulation. The Government’s response was to completely overhaul...more

New NZX Corporate Governance Code

by DLA Piper on

The NZX yesterday released its updated Corporate Governance Code (New Code), which will replace the existing Best Practice Code set out in the Appendix to the NZX Listing Rules (Old Code). The New Code has been developed from...more

Financial Markets Conduct (KiwiSaver) Amendment Regulations 2017

by DLA Piper on

Following industry consultation and debate, the Financial Markets Conduct (KiwiSaver) Amendment Regulations 2017 (Amendment Regulations) came into force on 21 April 2017. The Amendment Regulations impose new and more...more

M&A Global Intelligence Series: Pricing Mechanisms

by DLA Piper on

In any M&A transaction, one of the fundamental matters to be agreed by the parties (usually at an early stage) is what approach will be used to calculate the purchase price, including whether or not there will be any...more

Orrick's Financial Industry Week In Review

Rating Agency Developments - On April 19, 2017, Fitch issued a report entitled Airport Operating Lease ABS Rating Criteria. On April 14, 2017, Fitch issued a report entitled North America and Asia-Pacific...more

Privacy Commissioner critical of the bank's disclosure of personal information to the police

by DLA Piper on

A recent finding by the New Zealand  Privacy Commissioner (Commissioner) highlighted the need for organisations holding personal information to have appropriate policies and procedures in place to deal with requests from law...more

Environment: The Concept of Legal Personality – From Companies to Natural Entities?

by Latham & Watkins LLP on

New Zealand’s Parliament has just passed a bill to enable the Whanganui River to be recognised as a legal person. It will now be represented by two nominees: one appointed by the Maori community (or Iwi), and another...more

Construction retentions trust regime comes into force: What you need to know

by DLA Piper on

As discussed in previous updates, on 31 March 2017 a change to the Construction Contracts Act 2002 will take effect to implement a trust regime that will apply to retentions held under construction contracts. Key things...more

Legal Notebook for the Australia and New Zealand Property Journal

by DLA Piper on

The attached article appeared in the Australia and New Zealand Property Journal and addresses a recent decision of the Federal Court of Australia, Director of Consumer Affairs v Hocking Stuart Richmond Pty Ltd [2016] FCA...more

Next off the block - AEOI

by DLA Piper on

You might have thought you have enough on your plate getting to grips with anti-money laundering rules closely followed by FATCA – but it's not over yet! Next off the block is the Automatic Exchange of Financial Account...more

Australian and New Zealand Patent Systems among the strongest in the world

by FPA Patent Attorneys on

A newly developed index rates Australia’s and New Zealand’s patent systems among the strongest in the world. Companies need to be strategic about where to protect their inventions. These decisions are generally based on...more

Pharmaceuticals in South East Asia

by FPA Patent Attorneys on

1. Are methods of medical treatment patentable? 2. Is extension of patent term possible? 3. Is there a data exclusivity period?...more

Proposed Amendments to New Zealand Privacy Law

by DLA Piper on

The New Zealand Privacy Commissioner (Commissioner), John Edwards, recently released a report reviewing the Privacy Act 1993 (Act). The report recommends amendments to the Act as part of the overhaul of New Zealand privacy...more

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