Task Force Members - Its a 4 / 4 Split

Be advised: there is no outcome that will not involve more regulation. Starting with a 4/4 split between market and extra-market stakeholders should be a clear enough signal itself.

You be the judge. Here is the list of who has been appointed to the Task Force on Regulation of Financial Intermediaries.

My excellently placed sources tell me that "the Minister was trying to appease all groups which meant no industry head people er appointed, e.g. Vance Arkinstall, Philip Mathews etc". If you then find the name Paul Hunt to be a surprise this is because he will probably be leaving TOWER soon.

Paul Hunt, Chief Executive Officer, Insurance and Operations, TOWER New Zealand;
Michael Webb (Chair), Barrister & former Securities Commission member;
John Cobb, Head of Retail at Goldman Sachs JBWere;
Angela Foulkes, Consultant specialising in financial and public sectors;
Raewyn Fox, Executive Officer, NZ Zealand Federation of Family Budgeting Service;
Ross Kent, General Manager, Alliance Capital Management;
Michele Stanton, Managing Director, Glaister Ennor Asset Management Ltd; and
Peter Mumford, Director, Ministry of Economic Development (Government Official)

Paul Hunt has done a good job at TOWER. Michael Webb's role / intended contribution is obvious, and clearly necessary. John Cobb is a good man who understands the market. Angela has a union (CTU?) background. My budgeting servicec contact has worked with Raewyn - but she is unknown to me. Ross Kent, formerly of AMP should be known to most of you. Likewise Michele Stanton.

To quote from the blurb with the list: "The task force has been established to help raise the standard of financial services and examine the regulation of financial advisers. It is part of the government's overall objective to enhance the integrity and effectiveness of New Zealand's capital markets."

Comments

[Bill]

Very cool design! Useful information. Go on!D