New era in the regulation of New Zealand’s financial markets
From 1 December offers of financial products and managed investment schemes are registered under the Financial Markets Conduct Act 2013 (FMC Act), online on the Disclose Register.
Issuers and managers had two years to comply with the Financial Markets Conduct Act 2013 (FMC Act) and transition offers of financial products and managed investment schemes governed under previous legislation to the FMC Act.
Financial Markets Authority (FMA) Chief Executive Rob Everett said, “We have just completed the heavy lifting to put in place the infrastructure for the new regime. The licensing framework laid out in the FMC Act sets us up for the next phase of transformation in financial services – embedding high standards of conduct in financial service providers that place investors’ interests at the heart of their business models.”
Read the full FMA media release.