29 May 2010

Reports due shortly on capital markets

5:56 pm on 29 May 2010

A number of reports on changes to the capital markets to better protect investors and make it easier for firms to raise money are due next month.

Many are expected to develop recommendations made by the Capital Market Development Taskforce - recommendations that taskforce chairman Rob Cameron predicts could treble the size of the capital market over the next five years.

Commerce Minister Simon Power, who is already fast-tracking the establishment of the Financial Markets Authority, says there is plenty of other work that needs to be completed to bolster the market's attractiveness to investors.

"We have already moved on the financial literacy issues," Mr Power says, "and I'm confident that we will meet the target set for financial advisers - we've made some changes there off the back of the capital markets taskforce report.

"This particular piece of work and the financial markets work more generally is taking up a very big portion of my time and the Government's time at the moment."

Many of the reports due next month were originally due in April.