We are in the midst of a period of significant change in the capital markets, with the flow-on from the Global Financial Crisis still evident, important regulatory changes being bedded in and momentum gathering around potentially even more significant reforms still to come.
This seminar will look at what’s happening now and what we can expect in the debt capital markets over the next 18 months, including:
- trends in issuance in the wholesale and retail markets, including subordinated debt offers, covered bonds, distressed debt trading, and the challenges currently facing the Kauri Bond market
- the proposed securities law reforms – what we can expect from the process this year and how it might impact evolving market structures (including private wealth management and other growing areas of intermediation)
- infrastructure financing, including servicing the funding needs of district and regional councils, the imminent emergence of PPPs as an asset class, and the impact of the Christchurch earthquakes on debt financing of NZ Inc.
- how the financial advisers regime is influencing advice and underwriting practices
- new regulatory and oversight structures, including the FMA, broadening of prudential supervision to NBDTs and insurance companies, and the new expectations on trustees under the enhanced supervisory regime, and
- thoughts about how the capital markets can be reformed to avoid a repeat of the Government bailouts that have taken place.