Financial Advisers get new minister

Paul Goldsmith is now the former Minister of Commerce following Prime Minister Bill English's Cabinet reshuffle.

Sunday, December 18th 2016, 3:50PM 2 Comments

New Minister of Commerce Jacqui Dean

Jacqui Dean is the new minister and one of her roles will be to finalise the delayed review of the Financial Advisers Act.

She is the 24th ranked minister and sits outside of Cabinet. Her other roles include; Minister for Small Business, Associate Minister for ACC and Associate Minister of Local Government.

Goldsmith is 19th ranked and moves into Cabinet. He is now is the Minister for Tertiary Education, Skills and Employment, Minister of Science and Innovation and Minister for Regulatory Reform.

Institute of Financial Advisers chief executive Fred Dodds says it's important to take the change positively and to work with Dean to bring her up to speed on issues and to get the review passed into law before the election.

He, like others in the industry, know little about Dean.  Dodds points out that while there is a new minister, there are no changes to the MBIE staff running the review.

He hopes there is not a big pause where the Minister says: "I want to know what this is all about."

"The name of game is to get the act through," he says.

Who is Dean?

Jacqui Dean has been the MP for Waitaki for four terms.

Dean chaired the Justice and Electoral Select Committee, was a member of the Health Select Committee, Commonwealth Parliamentary Association delegate of the 51st Parliament and vice-president for Parliamentarians for Global Action.

As co-chair of the Rules Reduction Taskforce, she has been responsible for liaising with local Government, the building industry, and communities across New Zealand.

Her web profile says "she is passionate about promoting the needs of the smaller communities around the regions and is also a strong advocate for health, tourism, and rural issues."

Before being elected to Parliament in 2005, Dean was a Waitaki District councillor and deputy mayor.


Tags: Financial Advisers Act Paul Goldsmith

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Comments from our readers

On 19 December 2016 at 8:44 am Barry Read said:
Mt Goldsmith is also Minister for Regulatory Reform, so will hopefully still be able to help get it right.
On 20 December 2016 at 1:47 pm gavin austin adviser business compliance said:
Well said I am sure they will take encouragement from your incisive and supportive comment. Could be a Tiu ad.

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