This consolidation is a positive step in our evolution. There won’t be a sea change in how we substantively consider capital market issues and nor will there be a change to specific areas of focus, such as the streamlining of capital raising, secondary market conduct, and tailoring regulation to reduce regulatory burden.

However, we will be more efficient in our responses. The old structure meant that firms with capital markets issues could find themselves dealing with people across three different teams. The new structure means there is better scope for us to support firms and improve the efficiency of regulation – which ultimately benefits investors.

As a result of the restructure, businesses can expect a deeper level of engagement with us. We often have to choose where to focus our efforts. In doing that, we will focus on activities that will make capital markets attractive to investors.

Garth Stanish

Director of Captial Markets, FMA

20 November

Consultation closes – Code Committee’s consultation on the Code of Professional Conduct for Authorised Financial Advisers
 

27 November 

Consultation closes - Draft guidance on disclosure of certain fees and returns by managed funds

30 November

Offers under the Securities Act

Only continuous issuers and entities that did not require a prospectus as a result of an FMA exemption can continue to offer under the Securities Act.

Authorised Financial Advisers who are personalised DIMS providers

AFAs who are personalised DIMS providers must comply with their statutory annual reporting obligations, including sending notices to their clients describing the service and scope of investment authority.

1 December 2015

Derivatives issuers

All derivative issuers (including those under a transitional licence with disclosure conditions) must use an FMC PDS for regulated offers of derivatives.

Also, all derivatives issuers (including those with a transitional licence who have been complying with the Futures Industry (Client Funds) Regulations 1990), have to comply with the derivatives investor money and property provision in the FMC Regulations (Regulations 238-250).

Scams are a growing international problem. As part of a global initiative, Fraud Awareness Week will help highlight the dangers of scams and how consumers can protect themselves. Throughout next week, we will be posting tips on our LinkedIn Investor Information page about what to look out for, and the steps investors can take to avoid becoming a victim.

5 November  - FMA confirms Paul Gregory in the role of director of external communications and investor resources

27 October - SPG and SPGI director Andrew Robinson sentenced

16 October - FMA confirms new organisation structure and appointments to leadership team
 

Email us at communications@fma.govt.nz