Appointment to the Securities Commission

Commerce Minister Lianne Dalziel today announced the appointment of Elizabeth (Liz) Hickey to the board of the Securities Commission, for a term of five years. The Minister says that Liz Hickey's experience with the International Accounting Standards Board in the United Kingdom will assist considerably with the work of the Commission.

"The Securities Commission is an independent Crown entity that plays a vital role in the enforcement of our securities market regulatory regime. I welcome the expertise and experience Liz Hickey is bringing back to the Commission after her time in the UK," Lianne Dalziel said.

Brief Background

Liz Hickey is a chartered accountant with more than 30 years experience and specialist expertise in complex accounting, financial reporting and disclosure issues. She has been with the International Accounting Standards Board (IASB) in the UK since 2003 and has recently completed her term there. Liz Hickey previously served as a member of the Securities Commission from 1992 to 2003. She was also a member of the Accounting Standards Review Board (ASRB) from 2002 to 2003 and was the Chair of the ASRB in 2003.

Background on the Securities Commission

The Securities Commission is an independent Crown entity established under the Securities Act 1978 to regulate New Zealand's securities markets. Its work contributes to strengthening investor confidence and fostering capital investment in New Zealand, by promoting the efficiency and integrity of securities markets through cost-effective regulation. The Governor-General, on the recommendation of the Minister of Commerce, appoints the ten members of the Commission.

For further information on the Securities Commission, see www.seccom.govt.nz