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Murray Jack appointed to Securities Commission

Deloitte chief executive Murray Jack has been appointed to the Securities Commission.

NBR staff
Wed, 13 Oct 2010

Deloitte chief executive Murray Jack has been appointed to the Securities Commission.

His term starts on Friday and will run for nine months or until the Financial Markets Authority has been established, Commerce Minister Simon Power said.

Mr Jack replaces Liz Hickey who stepped down from the commission in April.

“Mr Jack’s background and practical expertise in accounting and auditing will be of great benefit to the commission,” Mr Power said.

Mr Jack has been chief executive of Deloitte, Wellington, since 2005. He joined the firm in 1976 and was made a partner in 1987. He has been involved in the development of the proposed auditor oversight regime and related regulatory issues. He is a board member of the Institute of Chartered Accountants and is actively involved in the governance of accounting and auditing matters.

The Securities Commission is an independent crown entity under the Crown Entities Act 2004, and is established under the Securities Act 1978. The commission is New Zealand's main statutory regulator for the securities and investment industry.

In April this year, the government announced the creation of the Financial Markets Authority. It will be an independent Crown entity, which will consolidate the powers and functions of the existing Securities Commission, some of the functions of the Registrar of Companies and the Government Actuary, and some of the regulatory roles of the New Zealand Exchange (NZX).

The FMA is expected to be up and running in the first quarter of next year.

NBR staff
Wed, 13 Oct 2010
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Murray Jack appointed to Securities Commission
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