Among the key changes proposed in the draft Financial Markets
Conduct Bill is a new single product disclosure statement
(PDS) and online register of
other information, to replace the current prospectus and investment
statement.
When it comes to exemptions from disclosure requirements, the
Bill retains many aspects of the existing framework. But it
also has some welcome additions and a few "tweaks" in the
detail that could be significant for some.
In this Brief Counsel we discuss some of the highlights of the
new disclosure exemption regime, point out the most significant
proposals for reform, and discuss the impact they may
have.
How do the exclusions work?
Part 3 of the Bill sets out the new disclosure requirements
(outlined in our earlier commentaries of
16 August and
24 August). These apply to:
