Good first half for Securities Law Review

The Securities Law Review has played a good first half and all the indications are that it will maintain form through the game.

The Government's response to the reform options, outlined in the Cabinet Paper released on Thursday, is measured and an extensive consultation process is planned which should minimise the risk of legislative error.

In prospect is a regulatory framework which will still be at the lighter end of the international spectrum, reflecting the small size of our market and the need to be competitive relative to other regimes – particularly Australia.  This should nurture innovation but, as the Cabinet Paper acknowledges, will make it more difficult to achieve full mutual recognition.