Offers under the FMC Act

 

Who needs to comply

Anyone offering financial products for sale needs to comply with financial markets legislation. The Financial Markets Conduct Act 2013 (FMC Act) defines these people as issuers and other offerors.  See who is an issuer and other offerors here.

Disclosure requirements

Information about ‘regulated offers’ must be disclosed in a product disclosure statement (PDS) and the Disclose Register. Together, this information must include all material information about the offer of a financial product and be up-to-date, accurate and understandable. 

Schedule 1 offers

Schedule 1 of the FMC Act sets out a series of statutory exclusions where lighter compliance paths are appropriate. 

Pre-registration review service

We offer a pre-registration review service to help issuers, and their directors, feel more confident their offer documents are likely to satisfy FMA expectations. 

Your on-going obligations

In addition to the obligations relating to offer information, an issuer will also have ongoing obligations under the FMC Act. These vary depending upon the type of issuer or offer. 

Exemptions

The FMC Act offer regime is simpler and more efficient than the previous Securities Act regime. Most issuers and offerors will be able to make offers under either but some exemptions may apply.  Find out the latest here.