Financial Markets Conduct (Tor FX Pty Limited ) Exemption Notice 2024

The Financial Markets Conduct (Tor FX Pty Limited) Exemption Notice 2024 (Notice) exempts Tor FX Pty Limited (TorFX) from certain financial reporting and audit requirements in the Financial Markets Conduct Act 2013 and from certain assurance obligations under the Financial Markets Conduct Regulations 2014 (the Regulations). 

The Notice is subject to a number of conditions and the main effects of the exemptions and conditions are as follows:

• TorFX will prepare and lodge financial statement that comply with Australian GAAP rather than NZ GAAP.
• TorFX will not prepare separate New Zealand business financial statements. The notes to TorFX’s financial statements will explain that TorFX does not incur any tax liability in New Zealand. Those notes will also provide key financial information on TorFX’s New Zealand business that will give insight into the New Zealand business for any users of this information.
• TorFX’s financial statements will be audited by an Australian auditor under Australian auditing standards except for the addendum that is made in relation to the accounting period ended 30 June 2024.
• the register entry for an offer of derivatives will contain TorFX’s financial statements that would ordinarily be required by the Regulations, except that those financial statements will have been prepared in accordance with Australian GAAP instead of NZ GAAP, and audited by an Australian auditor under Australian auditing standards.

Download Financial Markets Conduct (Tor FX Pty Limited ) Exemption Notice 2024 [PDF] 209KB