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Ministry of Economic Development - Business Update 2010
 

Ministry of Economic Development - Business Update 2010

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Business Update presentation for the Business Update 2010 Seminar Series - New Services for a New Decade. ...

Business Update presentation for the Business Update 2010 Seminar Series - New Services for a New Decade.
Focusing on legislation changes, tips, statistics and what’s on the horizon for business.govt.nz, the Companies Office, Personal Property Securities Register, and the Financial Service Providers Register.

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    Ministry of Economic Development - Business Update 2010 Ministry of Economic Development - Business Update 2010 Presentation Transcript

    •  
    • BUSINESS UPDATE Seminar Session
      • business.govt.nz
      • The Companies Office
      • The Personal Property Securities Register (PPSR)
      • The Financial Service Providers Register (FSPR)
    • The New Zealand Government Business Portal www.business.govt.nz
    •  
      • Managing your cash flow
      • What to do if you want to employ staff
      • How to develop sound environmental practices
      • Marketing and promoting your business
      • Where to go to get more specific business advice
      • Tax
      • ACC
      Information available to help your business:
    • Government Initiatives
      • Tools and services from:
        • Inland Revenue
        • Statistics New Zealand
        • Department of Labour
        • Companies Office
      • You can find information on:
        • Job support package
        • Tax changes
        • 90 day trial period for new staff
    • Health and capability tools for your business
    • Survival templates
      • Cash flow templates and calculators
        • Collecting debt calculator
        • Calculate your charge out rate
        • 5 ways to increase profit
      • Marketing templates and calculators
        • Market research survey
        • Profile your customers
        • Advertising budget timeline
      • Business planning templates
        • Setting your goals
        • Conducting a SWOT analysis
    • What’s in the Pipeline for the Business Portal?
      • New look and feel – 28 June 2010
      • Introducing Online Transactions in 2010 for
        • Companies Office
        • Personal Property Securities Register
        • Intellectual Property Office of New Zealand
        • Department of Labour
      • Your ‘First Stop’ for doing business
      • Content Partner
    •  
    • Immigration Act 2009 – Employer Obligations
      • Employers to exercise due diligence when hiring
      • Act removes sighting an IR330 tax code declaration as a reasonable excuse - if employer fails to check a person’s entitlement to work and the person is not entitled to work for that employer - the employer could be prosecuted.
      • Reducing compliance costs by providing a new online service to employers to check prospective employees’ entitlement to work
      • Act commences late 2010
    • Online Employer Enquiry Service
      • Online Enquiries at employer’s convenience
      • Simple, easy-to-use, reliable, authoritative source
      • Maintain records of Enquiries, protect Privacy
      • Meet compliance requirements
      • Use igovt (Government Logon Service)
      • Soft launch of service planned August 2, 2010
      • More information can be found at
      • http://www.dol.govt.nz/actreview/factsheets/factsheet-09.asp
      • Immigration New Zealand Contacts:
        • Lisa Johnstone (Senior Business Analyst) [email_address]
    • business.govt.nz Contacts Website Twitter Facebook | www.business.govt.nz | twitter.com/business_govtNZ | facebook.com/business.govt.nz
    • The New Zealand Companies Office www.companies.govt.nz
    •  
    • New Services Introduced | 2008/2009
      • Director and banned person search for mobile phone devices
      • New validation service for company extracts and certificates of incorporation
      • Business Industry Code online search
    • More Companies Office Services
      • World Bank Doing Business 2010 rankings
        • New Zealand ranked number one country for ease of doing business
      • Australian Securities & Investments Commission (ASIC)
        • Data exchange between Australia and New Zealand
      • New ways of interacting with our clients
    • Statistics | July 2008 - June 2009
      • Close to 48,000 New Zealand companies were registered
      • Over 27 million register searches
    •  
    • Focus: New IT platform for corporate registers
      • Personalisation
      • Intuitive and self-driven user experience
      • igovt logon
      • Catering for an easy integration of future technologies and services
      • Rollout plan:
        • New Zealand Companies Office – 28 June 2010
        • Financial Service Providers Register – July 2010
        • Other Corporate Entities (e.g. Incorporated Societies) – progressively throughout year
    •  
    • Social Media
      • http://blog.companies.govt.nz
      • http://twitter.com/CompaniesOffice
      • http://www.facebook.com/CompaniesOffice
      • NewZealandCompaniesOffice
    •  
    •  
    •  
    • Companies Office Contacts Website Mobile site Phone Skype | www.companies.govt.nz | http://m.companies.govt.nz | 0508 COMPANIES (226 726) | NewZealandCompaniesOffice
    • Personal Property Securities Register (PPSR) www.ppsr.govt.nz
    •  
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    • PPSR Contacts Website Email Phone Twitter Facebook | www.ppsr.govt.nz | [email_address] | 0508 PPSR INFO (777 746) | twitter.com/nzppsr | facebook.com/nzppsr
    • Financial Service Providers Register (FSPR) www.fspr.govt.nz
    • New Legislation
      • Why?
        • To address consumer and government concerns about the financial industry in New Zealand
      • What?
        • Two companion pieces of legislation were passed:
          • Financial Service Providers (Registration and Dispute Resolution) Act 2008
          • Financial Advisers Act 2008
    • What are the benefits of the new regime?
      • Good for business and competition
        • Transparency and availability of business information
      • Good for consumers and integrity
        • Consumers now have an avenue of redress – Dispute Resolution Schemes dedicated to financial services disputes
        • The Act prohibits certain people from being involved in the management or direction of registered FSPs
        • Consumers wanting financial advice can choose people that are registered and those that also have authorisation from the Securities Commission
    • What is the FSPR?
      • A public, searchable register of financial service providers who operate in New Zealand. Examples are:
        • Financial advisers
        • Money changers
        • Credit providers
      • Where is the Register held and where do FSPs apply for registration and authorisation?
        • Online at www.fspr.govt.nz from July 2010
        • Financial Service Providers Act comes into force 1 December 2010
        • Financial Advisers Act comes into force 1 July 2011
    •  
    • Who is behind the FSPR?
      • The New Zealand Companies Office
        • Maintenance of the electronic Register
      • Ministry of Consumer Affairs
        • Administering the approved Dispute Resolution Scheme regime and the government’s Reserve Scheme
      • Securities Commission
        • Financial advisers (AFA and RFA) and Qualifying Financial Entities (QFE) regimes
    • What are common financial services?
      • Mortgages, saving and cheque accounts, and loans
        • Services your bank, building society, or credit union may offer
      • Insurance
        • Including life, health, home/contents, and vehicle
      • Money management and/or advice
      • Investment management and/or advice
      • Consumer loans and credit
        • Such as when you sell an item on credit or provide a cash loan
      • Foreign currency exchanges
        • Whether buying or selling
      • Money transfers
      The full definition of financial services is provided in section 5 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008
    • Examples of common financial service providers
      • Building Societies
      • Credit Providers
      • Credit Unions
      • Financial Advisers (including financial planners)
      • Finance Companies
      • Foreign Currency Exchange Dealers
      • Fund Managers
      • Insurers
      • Investment Portfolio Managers
      • Issuers
      • Money Changers
      • Registered Banks
      Excemptions are provided in section 7 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008
    • Application for FSP Registration Criminal History Check by Ministry of Justice Yes No further action Applied for Authorisation? No Application referred to Securities Commission for processing FSP Registration Complete Join a Dispute Resolution Scheme (DRS)
    • Dispute Resolution Schemes
      • Two options
        • One of the approved Dispute Resolution Schemes
        • Government’s Reserve Scheme
      • Sort your membership before beginning the registration application process
      • Each scheme will have its own membership fees, requirements, and rules
      • Visit www.consumeraffairs.govt.nz for more information
    • To summarise:
      • If in doubt, check with your lawyer about your need to register
      • Get your dispute resolution scheme membership sorted before you start to register
      • If you need to be authorised, get ready now – Securities Commission has the information you need
      • Registration is designed to be simple and easy, but if you need help, FSPR provides online help and a freephone
    • FSPR Contacts Website Website Website Email Phone Twitter Facebook | www.fspr.govt.nz | www.consumeraffairs.govt.nz | www.seccom.govt.nz | [email_address] | 0508 FSPR INFO (377 746) | coming soon | coming soon
    • Questions?
      • www.business.govt.nz
      • www.companies.govt.nz
      • www.ppsr.govt.nz
      • www.fspr.govt.nz
      Receive up to date and late breaking news from the Ministry of Economic Development - subscribe to the Business Update at http://news.business.govt.nz | 0508 COMPANIES (266 726) | 0508 PPSR INFO (777 746) | 0508 FSPR INFO (377 746)