As indicated in an earlier update on the Financial Markets Conduct Bill (FMC Bill), the Ministry of Economic Development (MED) has collated a table of the 73 submissions it received on the exposure draft of the FMC Bill. This table is now available on the MED's website here. The table includes brief MED comments indicating where a change to the exposure draft has or has not been made in response to the submissions or where further consideration is required.

The MED has also released an unofficial compare version of the FMC Bill which shows changes between the exposure draft and the introduction version.

Both of these documents will advance your review of the FMC Bill considerably and the MED is to be congratulated for making them available. For further background material released by the MED on the FMC Bill and its review of New Zealand's securities legislation click here.

There will be an opportunity to make submissions on the FMC Bill during the select committee process. If the current Government's timeline is kept, this is likely to be in the first quarter of 2012 with a view to the Bill being passed by the end of 2012.

In addition, MED has said that it will continue to consult informally on the FMC Bill over the coming months.