Regulatory Evolution Summit

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Regulatory Evolution Summit

26 - 27 April, Wellington

About

Can New Zealand ever catch up with Australia in economic and social standards? Should we even try?
The 2025 Taskforce certainly thinks so. Are the recent reforms to our regulatory framework taking us in the right direction? This carefully researched event will examine regulatory reform in New Zealand and discuss the impacts and expected outcomes on the road to bringing us in line with OECD countries.

Attend the Regulatory Evolution Summit to hear the latest insights from our key business leaders, economists, lawyers and advisors, and take advantage of this unique opportunity to put your questions to our expert line-up of speakers.

Keynote Address by Hon Rodney Hide, Minister for Regulatory Reform and Minister of Local Government

And expert presenters from
NZIER, COVEC, Business New Zealand, Castalia Strategic Advisors, Kensington Swan, Bell Gully, Shortland Chambers, Franks & Ogilvy, Securities Commission, Reserve Bank, Justice Dept,
Dept of Internal Affairs

Key themes for this event include
• Improving Regulatory Impact Analysis and its importance for New Zealand’s wellbeing
• Can we ever catch up with Australia?
• Overhaul of the power sector – implications and effects on competition
• Local Government regulatory change – implications for the future of Local Government
• Examining the impact of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act
• Capital Market Development Taskforce Recommendations and Findings

Agenda

Day 1

8.30

Registration and coffee

9.00

Opening remarks from the Chair

Brent Layton, Senior Fellow, NZIER

9.10

Ministerial Address – The future of Regulation in New Zealand (Ministerial Address)

The Minister will review developments and discuss the Government’s policies and plans for regulation in New Zealand.
• Trans-Tasman Harmonisation
• Government plans for Regulatory reform
• International developments and co-operative practices

Hon Rodney Hide, Minister for Regulatory Reform

9.40

Regulatory Responsibility Bill

The Regulatory Responsibility Taskforce has proposed legislation that could have a major impact on all forms of Government regulation. This session will examine the progress of the bill, the recommendations of the Taskforce and the impact of the Bill on existing and new legislation.
• What are the key proposals of the Taskforce?
• Could they be improved?
• The views of business organisations on a ‘regulatory constitution’
• Where to from here? Government reactions and the parliamentary process

10.40

Morning tea

11.00

Improving Regulatory Impact Analysis and its importance for New Zealand’s wellbeing

It is essential to ensure that proposals involving regulatory options are subject to careful and robust regulatory impact analysis (RIA) to be certain that recommended options are in the public interest. This session will examine the standard of Regulatory Impact Analysis being carried out in New Zealand, and discuss the importance of effective and efficient regulatory reform:
• The logic of regulatory impact statements - better information makes better regulation
• The fit with the reality of how the regulatory system operates
• International experience - trouble getting traction
• The performance of regulatory impact analysis in NZ against requirements - an independent assessment
• Common barriers and issues and what can be done to improve

Jean-Pierre de Raad, Chief Executive &
John Yeabsley, Senior Fellow, NZIER

11.50

RMA Phase 2 – Objectives and intent

With the reform on the RMA well underway, this session will examine the progress of the Phase 2 reforms, the intent behind the reforms and what needs to be done to achieve its aims.
• Improving infrastructure provisions
• Consideration of better freshwater management
• Exploring approaches to better urban planning
• Sustainable and cost effective aquaculture planning and development
• Addressing the establishment, role and functions of the new EPA

Alan Dormer, Barrister, Shortland Chambers

12.50

Lunch

1.50

Panel discussion: Can we ever catch up with Australia? (Panel)

In its review of New Zealand, the OECD recommended policy reforms needed to overcome any disadvantages of distance. The 2025 task force stated that it is essential to re-establish the mind-set that markets, not governments, create wealth. Our panel of speakers will discuss the findings of the Task Force, and whether the aim to catch up with Australia is a pipe dream or a practical challenge. How far should we go for Trans-Tasman harmonisation?

John Small, Consultant, Covec
John Kerr, CEO, Business New Zealand
Alex Sundakov, Executive Director, Castalia Strategic Advisors

2.40

Overhaul of the power sector – Implications and effects on competition

With the Government accepting the recommendations of the Layton review, the electricity sector is in for the most comprehensive overhaul since the late 1990s. This session will examine the implications of government intervention on the power sector and the likely effects on pricing and competition
• Establishment of a liquid electricity hedge fund market
• Asset swapping
• Promoting swapping providers – will companies be forced to drop prices to maintain market share?

John Small, Consultant, Covec

3.30

Afternoon tea

3.45

The Commerce Act – Ripe for reform?

This session will discuss the problems with the current legislation and suggest ways it could be improved.
Restrictive trade practices – no clear provision
• Controversy over confidentiality
• Lack of clarity around the Commission’s powers in interviews
• Authorisation process still unattractive to potential applicants
• Bar set too high for merger review

Mark Williamson, Partner, DLA Phillips Fox

4.30

Competition Law in a small economy - comparison with overseas authorities

Does the Commerce Act allow the Commerce Commission to best meet its stated aim of fostering market competition, so consumers benefit from having a greater choice of goods and services at better prices and quality, and businesses can thrive?
• How does NZ competition law differ from others' competition legislation?
• How does the operation of the Commission differ from elsewhere
• What changes could be made to the NZ competition regime to ensure the Commission can become even more effective?
• And an interesting aside: Behavioural Economics at the Gate: the relevance of new theories of behavioural economics for competition analyses.

Tamara Linnhoff, Senior Economist, NZIER

5.15

End of day one & networking drinks

Day 2

9.00

Welcome back from the chair

Brent Layton, Senior Fellow, NZIER

9.05

Local Government regulatory change – Implications for the future of Local Government

This session will examine the changes to local government regulation in New Zealand and the impact on authorities and constituents.
• Auckland Super-city - just the beginning?
• Will the regulatory mechanisms for governing Auckland Council and its CCOs be effective?
• Governance and regulation of super-authorities – how will it be managed?
• Transparency, accountability and fiscal management for local government

Grant Hewison, Senior Associate, Kensington Swan

9.50

New Zealand Employment law – One size fits all?

Do recent changes to employment law level the playing field or just add unnecessary complications for employers? Discuss the recent and proposed changes and their implications for NZ employers.
• Do we need further rules governing employment contracts?
• Should high wage earners need the protection of the ERA or is contract law the best option?
• Freedom to negotiate v ERA constraints

Michelle Banfield, Senior Associate, Bell Gully

10.40

Morning tea

11.00

Tradable Water Rights – Essential for effective Water management in NZ?

• Role of the EPA in water management
• Legal definitions of water property rights
• How do tradable water rights work in other countries?
• How could the establishment of a tradable water market work in NZ?

Greg Milner-White, Senior Associate, Kensington Swan

11.40

Securities Act Review and its place in the regulatory landscape

Jane Diplock will examine the review of the Securities Act, the recommendations, and discuss how it fits in with regulatory change within New Zealand.

Jane Diplock, Chair, Securities Commission

12.30

Lunch

1.30

Panel Discussion: Examining the impact of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. (Panel)

This legislation has a major impact on the regulation of the financial sector and has been designed to help detect and deter crime and enhance NZ’s international reputation as a trading partner. The new law formally recognises that effective control of money laundering and crime that leads to it needs collaboration between the financial sector and government.
This panel discussion will give vital information both to financial sector attendees and to other government agencies who are interested in regulatory models.

Representatives of Securities Commission, Reserve Bank, Justice Dept and Department of Internal Affairs

2.30

Capital Market Development Taskforce Recommendations and Findings

The Capital Market Development (CMD) Taskforce has looked at the current state of our capital markets, the international context, future risks and opportunities and key changes necessary to deliver the best possible financial system for New Zealand. This session will discuss the recommendations and findings, and implications for capital markets.

Stephen Franks, Principal, Franks & Ogilvy

3.30

Afternoon Tea

3.50

NZ ETS – Impacts for industry

The amended version of the ETS aimed to reduce its competitive impacts and make the scheme more affordable, however has it also weakened the price drivers for emission reductions? This session will examine the NZ ETS, and how effective it is expected to be in reducing Carbon production.
• Will the ETS actually do what it was planned to?
• Cheaper to buy credits then reduce emissions?
• Costs of compliance
• With the Australian Senate rejecting the Carbon Pollution Reduction Scheme, where does that leave the NZ ETS?

Alex Sundakov, Executive Director, Castalia Strategic Advisors

4.40

Closing remarks from the Chair and end of conference

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Prices and Registration

DatesLocationStandard priceEarly bird price* 
26 - 27 AprilWellington$2295 + GST$1995 + GST
(EB Date: 15 March)		Register

* Early bird price available when you register and pay before the dates listed.