The Privileges Committee has recommended former Cabinet Minister Michael Wood apologise to Parliament over his failure to properly declare shareholdings.
The committee has found he was neglectful in his "duties over a significant period of time", but his "shortcomings in this regard" were not enough to amount to contempt.
Wood resigned as a minister in June, and was referred to the committee - which makes rulings on alleged breaches of Parliament's rules - after repeated failures to properly declare or sell shares relating to his portfolios.
In its ruling released on Wednesday afternoon, the committee recommended that he be required to apologise to the House, and that the Standing Orders Committee consider clarifying how interests in trusts should be dealt with.
"Mr Wood has now corrected his previous returns, and has expressed regret for his actions. He has apologised to the Registrar for his failure to declare his interests in AIA and Contact and his failure to correct previous returns sooner," the committee's report said.
Unusually, the report also criticised registrar of pecuniary interests Sir Maarten Wevers - who conducted an earlier inquiry into Wood's actions - for criticising the now-former minister.
"The registrar's report contained comments passing judgement on Mr Wood's actions in critical terms. We consider that passing judgement on members' actions is a matter for this committee rather than for inquiries conducted by the registrar."
Wevers had said in his report that Wood's failure to "turn his mind to his interests as he should have" had "demonstrated a worrying and ongoing lack of awareness of the need to correct errors and omissions".
Wood remains as MP for Mount Roskill, and has said he intended to seek re-election in October.
RNZ
