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Government to introduce law to tackle merchant fees, saving businesses up to $74m


Tom Lee/Stuff
Minister for Commerce and Consumer Affairs David Clark announced the KiwiSaver default provider shake-up.
Merchant service fees were unregulated and have been set higher in New Zealand than they were in Australia, he said.
The merchant fees could add significant overheads for retailers who often passed these costs on to consumers, he said.
Following feedback from a recent consultation period, a Retail Payments Systems Bill will be introduced later this year to require reductions in interchange fees as soon as possible; to enable direct intervention by the Commerce Commission using a broad suite of powers to regulate different participants in the retail payment system; and to introduce a disclosure and reporting requirement to enable the commission to monitor the retail payments system. ....

New Zealand , David Clark , Commerce Commission , Consumer Affairs , Consumer Affairs Minister David Clark , Retail Payments Systems Bill , புதியது ஜீலாந்து , டேவிட் கிளார்க் , வர்த்தகம் தரகு , நுகர்வோர் வாழ்க்கைத்தொழில்கள் , நுகர்வோர் வாழ்க்கைத்தொழில்கள் அமைச்சர் டேவிட் கிளார்க் ,

Financial sector to disclose climate impact


Financial sector to disclose climate impact
New Zealand has become the first country to introduce a law which requires the financial sector to disclose the impact of climate change on businesses.
Business
by Richard Gluyas
Premium Content
Subscriber only
New Zealand has become the first country to introduce a law which requires the financial sector to disclose the impact of climate change on businesses and how they will manage climate-related risks and opportunities.
The legislation has been introduced to parliament and will receive its first reading this week.
Commerce and Consumer Affairs Minister David Clark said it was important that every part of NZ s economy was helping to cut emissions and transition to a low-carbon future. ....

New Zealand , James Shaw , David Clark , Consumer Affairs , Consumer Affairs Minister David Clark , Change Minister James Shaw , புதியது ஜீலாந்து , ஜேம்ஸ் ஷா , டேவிட் கிளார்க் , நுகர்வோர் வாழ்க்கைத்தொழில்கள் , நுகர்வோர் வாழ்க்கைத்தொழில்கள் அமைச்சர் டேவிட் கிளார்க் , மாற்றம் அமைச்சர் ஜேம்ஸ் ஷா ,

New Zealand Leads World in Corporate Reporting on Climate Change With New Law


New Zealand Leads World in Corporate Reporting on Climate Change With New Law
New Zealand Prime Minister, Jacinda Ardern. Image credit: AFP
Commerce and Consumer Affairs Minister David Clark says New Zealand has become the first country in the world to introduce a law that requires the financial sector to disclose the impacts of climate change on their business and explain how they will manage climate-related risks and opportunities. 
The Financial Sector (Climate-related Disclosure and Other Matters) Amendment Bill has been introduced to Parliament and will receive its first reading this week.
All banks with total assets of more than NZ$1 billion ($703 million), insurers with more than NZ$1 billion in total assets under management, and all equity and debt issuers listed on the country’s stock exchange will have to make disclosures. ....

New Zealand , James Shaw , Bryan Groenendaal , David Clark , Climate Change Commission , Consumer Affairs , Task Force On Financial Disclosures , Consumer Affairs Minister David Clark , Financial Sector , Climate Related Disclosure , Amendment Bill , Change Minister James Shaw , Aotearoa New , Task Force , Climate Related Financial Disclosures , புதியது ஜீலாந்து , ஜேம்ஸ் ஷா , டேவிட் கிளார்க் , காலநிலை மாற்றம் தரகு , நுகர்வோர் வாழ்க்கைத்தொழில்கள் , நுகர்வோர் வாழ்க்கைத்தொழில்கள் அமைச்சர் டேவிட் கிளார்க் , நிதி துறை , காலநிலை தொடர்புடையது வெளிப்படுத்தல் , திருத்தம் ர சி து , மாற்றம் அமைச்சர் ஜேம்ஸ் ஷா , பணி படை ,