News & Analysis as of

New Zealand

New Zealand Looking Set to Implement Domestic Violence Reform

by K&L Gates LLP on

A bill aimed at enhancing protections for victims of domestic violence in New Zealand has received strong cross party support this year. This means that the proposed changes, including a number of changes relating to...more

The FMA’s views on ICOs and cryptocurrencies

by DLA Piper on

The benefits and potential that can come from a properly organized and regulated Initial Coin Offering (ICO) or Token Generation Event (TGE) are obvious in terms of both efficiencies and scale in capital raising for issuers,...more

NZX Listing Rule Review

by DLA Piper on

You have until 17 November 2017 to submit your thoughts on the 79 Questions posed by NZX as part of its review of the Main Board/Debt Market listing rules (Listing Rules). If you do not wish to make a detailed submission, a...more

Strangers in a strange land

by DLA Piper on

When an overseas employer has its staff working in New Zealand under their overseas employment contracts, does New Zealand employment law cover them? This question was partially answered in the recent Supreme Court...more

FMA issues guidance on substantial product holder disclosures

by DLA Piper on

In our May 2017 update, we discussed FMA's proposed guidance on substantial product holder (SPH) disclosures on which it was seeking feedback from the market - in particular, in relation to its proposed treatment of...more

Reserve Bank announces revised BS11 Outsourcing Policy

by DLA Piper on

The Reserve Bank of New Zealand (RBNZ) released its revised BS11 Outsourcing Policy (BS11) last week following a two year consultation period. While the RBNZ initially consulted on lowering the threshold of BS11 to apply to...more

Minimum employment standards: get it right or pay

by DLA Piper on

The topic of immigration – and particularly migrant labour – has recently been broadly canvassed in the media with all the election coverage. In the employment law context, the situation of migrant workers is unfortunately...more

Chris Lazarini Discusses Application of Inter-American Convention on International Commercial Arbitration

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed a case involving an international family dispute over the holdings in a brokerage account. In this instance, the primary owner of the account – a mother living in Columbia...more

M&A Global Intelligence Series: American Deal Terms

by DLA Piper on

With regulatory constraints currently making it challenging to get capital out of China, the Pound Sterling continuing to suffer Brexit-related weakness and the NZ$ having softened against the Greenback, we expect North...more

The FMA's Annual Corporate Plan

by DLA Piper on

The Financial Markets Authority (FMA) recently issued its Annual Corporate Plan for 2017-2018 (ACP). This sets out the FMA's priorities and intended activities for the year ahead and is one of their core strategic...more

High Court confirms position on assignment of insurance claims

by DLA Piper on

The High Court has recently confirmed that purchasers of an earthquake damaged house who took an assignment of the vendor's insurance claim can only claim the indemnity value from the insurer. The purchasers are not able to...more

Indemnities and insurance for directors and employees

by DLA Piper on

Company directors and employees must be aware of their rights and the requirements that relate to companies indemnifying, and providing insurance for their actions as directors or employees. Simple misunderstandings of the...more

Amputation brings big fine

by DLA Piper on

Last week the first fine was imposed on a business for breach of the Health and Safety at Work Act 2015 (HSWA)....more

Higher Health & Safety fines are a new reality

by DLA Piper on

On 22 August, the first fine was imposed on a business for breach of the Health and Safety at Work Act 2015. While these fines cannot be insured, the 6-fold increase in penalties under the new Act will change defence strategy...more

Patentability of diagnostic methods and biomarkers in Australia and New Zealand

by FPA Patent Attorneys on

Australia and New Zealand remain fertile grounds for pursuing inventions related to diagnostics, as outlined below. As the patentability of diagnostics in jurisdictions like the US has become increasingly complex, we provide...more

Passing the warrant of fairness - How fit is your gym membership?

by DLA Piper on

This week the Commerce Commission (Commission) released its report into unfair contract terms (UCTs) in consumer contracts in the gym and fitness industry. In this update we highlight the common UCTs identified by the...more

Contract and Commercial Law Act 2017 comes into force

by DLA Piper on

On 1 September, the Contract and Commercial Law Act 2017 (CCLA) comes into force. The CCLA is the product of a large statute revision exercise that aimed to make the Acts within its scope more accessible, readable and easier...more

Hazardous Substances Regulations

by DLA Piper on

From 1 December 2017, those who manufacture, use, handle, store and transport hazardous substances in the workplace will need to follow the new Health and Safety at Work (Hazardous Substances) Regulations 2017 (Regulations)....more

Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017

by DLA Piper on

The Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (Amendment Act) received Royal assent on 10 August 2017. The Amendment Act makes a number of changes to the Anti-Money Laundering and...more

Changes to the Commerce Act: five things you need to know

by DLA Piper on

In our last competition and market regulation update we noted that the Government had failed to progress the Commerce (Cartels and Other Matters) Amendment Bill, which was introduced to the house in 2011. The Bill has finally...more

Bill reforming financial adviser regime introduced to Parliament

by DLA Piper on

The financial services industry has been waiting with bated breath (given the upcoming General Election) for the introduction of the Financial Services Legislation Amendment Bill (Bill), which was introduced to Parliament on...more

Initial coin offerings – something new under the regulatory sun?

by DLA Piper on

FinTech Regulation - In our financial services updates at the beginning of the year (see here), we outlined a few regulatory pointers for FinTech coming out of a speech by the Chair of the Financial Stability Board (FSB)....more

IOSCO thematic review: recommendations for the regulation of custodians

by DLA Piper on

In our May 2017 update we discussed the International Monetary Fund's (IMF) 2017 report on New Zealand's financial sector. One of the IMF's notable recommendations was for the New Zealand Government to require custodians to...more

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

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