Building and Construction Minister Maurice Williamson says engineering institutions need more powers to penalise engineers.
The Canterbury Earthquakes Royal Commission found the design of the CTV building, in which 115 people died in the February 2011 quake, was deficient.
But the building's engineers, Alan Reay and David Harding, have yet to face any penalty from the Institution of Professional Engineers (IPENZ) or Chartered Professional Engineers' Council.
They are both still registered as chartered engineers.
Mr Williamson says he met with both organisations on Wednesday and they agreed the current regime needs to be fixed.
"What I think was a real agreement in the meeting was that the current regime is pretty toothless, that it does need a major overhaul and move to something where the registration means something.
"If you're a registered pilot and you lose your licence, you can't fly but if you lose your engineering licence with IPENZ you can still carry on practising."
Mr Williamson warns any changes will not be retrospective and are unlikely to affect Mr Reay or Mr Harding.