Third phase consultation on FMCA regulations

Now the big one for market participants – draft point of sale and on-going disclosure regulations under the Financial Markets Conduct Act (FMCA) to cover the core product types.

The Ministry for Business, Innovation and Employment (MBIE) has just released an exposure draft and commentary for Part 3 FMCA disclosure of equity and debt products, managed funds and other managed investment schemes (for example, forestry partnerships) and derivatives.

Submissions close on 20 June 2014.

Focus of third exposure draft

The third exposure draft and accompanying commentary focus on the core disclosure content requirements for financial products and on the mutual recognition regime for securities offerings with Australia.