FMA levies set to increase

After consultation in 2016, Cabinet has approved a proposal for the Financial Markets Authority (FMA) to alter the tiered frameworks for several of the FMA’s levies. The changes are substantial and alter the tiers for licensed insurers, and for managers and trustees in respect of securities. A larger body of total managed assets now attracts [...]

February 22nd, 2017|Categories: Legal Developments|Tags: |

Winning the battle, losing the (costs) war

In Sunder v Vasona Networks Inc [2016] NZERA Wellington 69, Vasona Networks Inc (Vasona) was found to have unjustifiably dismissed a Mr Rajeev Sunder. Mr Sunder was awarded $10,000 by the Employment Relations Authority (ERA). In a subsequent costs determination, the ERA had new information to examine. Most importantly, it emerged that Vasona had during [...]

February 22nd, 2017|Categories: Legal Developments|Tags: |

Erceg v Erceg [2016] NZSC 135

The Supreme Court in this case had to balance the competing interests involved in non-publication orders and the principle of open justice. The application involved trusts set up by Michael Erceg (now deceased). It was made to prevent publication of details such as the amounts distributed to family members under the trusts. The Supreme Court [...]

February 22nd, 2017|Categories: Legal Developments|Tags: |