Select committee enquiry into finance companies launched
The committee will look at ensuring investors are well-informed about investment proposals and that they understand the implications of proposed moratoria.
It will also investigate as to what actions can be taken to reduce the chance of a failure, and what redress exists when failures occur. “The committee takes the view that it is not necessary to duplicate the work that is underway” by the government, said chairman Lianne Dalziel in a statement.
“It wishes to focus on issues that do not appear to have been identified within current work programmes.”
The committee already convinced Commerce Minister Simon Power to ask the Ministry of Economic Development to prepare a report into the moratoria of finance companies in May, and while there’s no definite timeframe on when the report will be complete, a spokesman for the minister expects a draft “soon”.
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