Financial Services Legislation Amendment Bill- First Reading – Video 13

Financial Services Legislation Amendment Bill- First Reading – Video 13

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in this particular bill to the house the Honorable Willie Jackson it’s academic acquit the Turkana attire to get in a to Donna wrote might ye career okay aqua a panicky teen night to Dominica quick to know for he here at MIT nieuwe kita kita nama he talked with meto to him a guy named Robert Amma he killed a kooky little Papa a panicky taro foo labor it’s a connected to me he ki Mouton totoko Yamato it in a waffle taco Anatomy Calcutta it’s good that we’re all into thank yous because I think it’s a good way to approach the speech speeches APIs at this time mr. speaker back so my first thank you is to the wonderful to see how great representative of our Maori caucus here is the speaker some of us know once they there but I think he’s a great speaker and for us we get a lot of pride out of seeing Adrienne Udofia in their position so many calc we also I look at you know since we’re into the thank yous of just before I get into the ball I want to say it was really good to meet her DT over there doing a great job for for the area good to see national promoting Moldy candidates haven’t been too good at that in the past but now we start hard it is probably should be promoted to the front bench because the front bench has been embarrassing themselves in the lot in the last week there’s no doubt about that Paul Simon Simon had a terrible time the other day oh yeah terrible to James he walked all over him and stomped all over and it is as for mr. goldsmith mean he needs to ah point of order the belt DC oh I’m coming back to the world right I’ll convicted I think the member for his intervention I took her out Oh cute Killa Thank You mr. speaker coming back to the Bell coming back to the boat the reality is they are come on let’s not spoil that we’re going well can’t take that ugly Mario come on you’re sailing like the front beach hey guy actually you should be on the front beach they did such a terrible job this week terrible job but Mr Speaker we kill you keep the code papa it’s the dead you know they means stick to the point sorry sorry well he idea that mr. speaker when I went through a mahi I want to just mr. speaker come back to the point that I was saying which was this is a very important piece of legislation because if we look at it in a Maori since we need good information we need good information and people on this side and on that side that’s why I mentioned I didn’t just say cure de to her at the OVA news the new memory even needs to use the full name of members how did they heap on what beautiful name married to somebody I used to play rugby with he’s it wasn’t he wasn’t a bad rugby player too but anyway it’s true I I’m sorry I’m saying this I’m saying this mr. speaker it’s true I’m saying this because Maori need good advice we know this mr. speaker you’ve been a previous treaty negotiator Tamati knows this can heat up who knows us and we know we need good advice and we need this type of legislation and and some you know sometimes I feel mr. mr. speaker Oh breeds I don’t need to read the speech we’ve heard some of the court in all had it it was funny she was talking about it and Deborah was talking about about it that’s about the underdog that’s not the underdog giving the underdog an opportunity and its effect and her underdogs Maori being ripped off constantly sir be worked off constantly and if you look at some of the tree if you go through the treaty settlements process sometimes I wonder if tribes should have been compelled to get proper financial advice proper financial advice you know I’ve even had the odd relation I’ve even had that yes we agree I’ve even had the odd relation lose the whole treaty settlement I won’t say his name tonight because he might come looking for me but lost the whole treaty settlement why because he thought that he was a wonderful financial adviser and who suffered in the end our constant our constituency and so we need a piece of legislation like this for the underdog for full of people who’ve been ripped off by National Party supporters and probably members sue so in terms of no no I’m serious I’m serious here because the reality is say that this bill gives us an opportunity or don’t do see but take offense of that comment the speaker why the member takes offense to that that statement and membership withdrawn yeah I withdraw thank you sir but you’re and I’ll apologize in and no doubt they you have to cook you have to question they see the political affiliations of some of the people who who would rip off your kill heavens which person anyway coming back to the bill soon coming back to the boat we’ve got to stick to the subject here tonight and you know I commend everyone like Tommy T that he must have community three single person on the Select Committee and he was even looking for people to come in but well without that in totality yeah I didn’t know there’s such an aura to see but anyway coming back to it that’s this is all of their conduct you say conduct and so what’s the story here we is there’s some amendments to to to the financial markets area so that area the financial markets conduct conduct Act of 2013 significantly reformed New Zealand’s financial market laws relating to a wide range of financial products and services it said it I mean it’s good you know as it has expected given the size and complexity of the regime technical issues have emerged as industry began operating under the financial markets conduct conduct that regime and this bill makes some minor changes to their financial markets conduct conduct that to respond to these technical issues so so having an area like this where financial conduct has been examined it’s being practice and it’s being put out there is essential sir if we’re going to get changes out there in the industry and as our lawyer and foreign MMP Deborah Deborah Russell said this is an opportunity for the underdog are the benefits well here’s some of the benefits of the bill sir will improve access to and the quality of financial advice for New Zealanders and as I said with some of our we some of our tribes or well know things have got a lot better but some of them in the early in the early treaty settlement area times absalom your relations but they needed to absolute financial support and should have been compelled to get it before they started spending some of their money on areas they should never have touched absolutely so the bill will improve access and quality advice financial advice for all New Zealanders not just Marty and it will make it easier for consumers to access financial advice and to make more confident and informed financial decisions in particular circle consumers with simple needs or low levels to invest will be able to access the financial advice that they need the other thing of this bowl which is really good is that it will live over the playing field level the playing field because it’s really hard if you’re mouldy if you’re in a labor party if you’re no it’s true there’s it’s alright if your New Zealand fair see you know you need a big flashy house like Shane Jones you know but but if you’re in the Labor Party this is this is a tough area so the bill levels things out for for some of the liftings basically who be able to be able to get some access to some equality in terms of the whole financial situation I’m sick of it I remember when I was young and you had every sort of ripoffs here trying to trying to sell you financial advice so so this bill will be a level playing field for the industry and reduce I think this is this is a really important area reduce and your compliance costs through the introduction of the film base licensing regime so you know that I think that’s that’s good for everyone and the main the main point I suppose of the bill creates a new regulatory regime for financial advice and in every New Zealand er doesn’t matter what colour Moldy Park a Pacific Islander Labor Party even National Party they all you know even though there’s some questions about who’s giving the financial advice out everybody needs good financial advice so Mr Speaker I commend us to the house and and I commend the committee who’s been working on it and and I hope that we’re all in unity and support with regards to the sport or not that the question is that the motion be agreed to those of that opinion will say aye to the contrary no the eyes haven’t financial services legislation amendment bill first reading the question is that the financial services legislation amendment bill be considered by the economic development science in innovation committee those are their opinion we’ll say aye to the contrary no the eyes habit call on government order of the day the order the Honorable in Lee’s go mr. speaker the house has made excellent progress this afternoon and it being four minutes to six I sick leave for the house to adjourn until the next sitting day leave is put for that purpose the new member against that call on government order of the day number three maritime transport amendment bill third reading the Honorable Julian Jinta turn away mr. speaker tena koe tow 85

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