Financial Markets Conduct Bill introduced into Parliament (12 October 2011)
The Government has now introduced the FMC Bill is to replace the Securities Act 1978 and Securities Markets Act 1988. Specific provisions relevant to directors can be found throughout the Bill, but members are particularly referred to “Part 7: Enforcement, liability and appeals.

Tony Molloy QC was appointed as independent specialist adviser to the by the Commerce Committee of Parliament to assist with its inquiry into finance
company failures. Read the report Mr Molloy provided to the Committee in November 2010.

New amendments have recently introduced Companies and Limited Partnerships Bill. See particularly Subpart 1, and new section 4 which provides for criminalisation of breaches of certain director’s duties.

The Reserve Bank has released a consultation document on Basel III requirements.The Reserve Bank has released a consultation document on Basel III requirements.