FINANCIAL REGULATORS' CO-ORDINATION GROUP
TERMS OF REFERENCE
1. Membership of the Group will comprise one or more representatives from each of the following:
Reserve Bank of New Zealand
Securities Commission
Ministry of Economic Development
Government Actuary
Registrar of Companies
Official Assignee for New Zealand
Serious Fraud Office
Takeovers Panel
Commerce Commission
2. The Group will generally meet once per quarter, or more frequently if the need arises.
3. The Reserve Bank, the Ministry of Economic Development and the Securities Commission will take turns at chairing the Group. The chairmanship will rotate on an annual basis.
4. The Group will provide a forum for sharing information and views about:
· regulatory issues, financial system developments, and other matters of mutual interest;
· policy issues of common interest;
· areas of overlapping responsibility;
· members' relationships with Australian authorities.
5. The Group may also provide a forum for sharing information and views with relevant industry groups.
6. Members of the Group will keep information discussed in Group meetings confidential, unless otherwise required by law or agreed by members.
August 2003
