FMC Regulations discussion document released

Craig Foss
11 December, 2012

Commerce Minister Craig Foss has released a discussion document on regulations to be made under the Financial Markets Conduct Bill.

"These regulations are part of the most significant reform of financial market regulation in a generation. They provide the detail needed to fully implement key aspects of the Financial Markets Conduct Bill," says Mr Foss.

The discussion document covers a range of issues, including:
•how to make disclosure documents more useful and accessible to retail investors
•how licensing will work for fund managers
•detail around the governance rules for financial products offered to retail investors.

"These regulations are fundamental to the success of the Bill's purpose to create confident and informed investors and fair, efficient and transparent financial markets.

"Regulation needs to work for both issuers and investors. Investors must have confidence in the integrity of financial markets. They need accessible and useful information to make informed decisions and must be confident that their investments will be well-governed," says Mr Foss.

To view the discussion document, visit http://www.med.govt.nz/business/business-law/current-business-law-work/review-of-securities-law/consultation-on-financial-market-conduct-regulations/

Submissions close 1 March 2013.