Minter Ellison Rudd Watts News
Minter Ellison Rudd Watts hosts CMD Taskforce
1 December 2009
Minter Ellison Rudd Watts will host the Capital Market Taskforce (CMD) in Auckland on Wednesday 16 December 2009 as the group deliver their final Progress report to the Ministry of Economic Development (MED) and the public.
Established by the MED in July 2008, the industry-led CMD Taskforce has been tasked with producing a blueprint and action plan to develop New Zealand's capital markets.
The taskforce has spent the past year reviewing 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, wealth and jobs and ready access by New Zealand firms to affordable capital. The group also make submissions on relevant legislation such as the CMD Taskforce's submission on the MED discussion paper of June 2009, "Financial Advisers Act 2008: Disclosure Regulations".
The Progress Report July 2009 set out the Taskforce’s framework and shaped the final reports that will be delivered at the event this month. The report found that there is no analyst research available on 42% of the companies listed on the NZX and a further 13% of NZX companies only had one or two analysts covering them.
The CMD taskforce includes Cathy Quinn, Minter Ellison Rudd Watts Chair and Corporate Partner and is led by by investment banker, Rob Cameron (Cameron & Co). Members of the taskforce include Franceska Banga (NZVIF), Jonathan Ling (Fletcher Building), Rob McLeod (Ernst and Young), Gareth Morgan (Gareth Morgan Investments), Adrian Orr (New Zealand Superfund), Scott St John (First New Zealand Capital), Mark Weldon (NZX) and Nigel Williams (ANZ National Bank).
“The firm has been very supportive of my appointment. Task Force members are giving their time, so it is a significant contribution by the firm to New Zealand’s capital markets,” said Quinn.
Cathy is also a member of the Securities Commission in New Zealand.

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