In March 2017, the Financial Markets Authority (FMA) filed charges over share trading in Eroad Limited. A current and a former Eroad employee were alleged to have breached the Financial Markets Conduct Act 2013 (FMCA) prohibitions on disclosing or trading inside information. The FMA alleged that the former employee had traded 15,000 Eroad shares after [...]
The Ministry of Justice is analysing submissions received in 2016 on a draft Trusts Bill, which is likely to have implications for trusts and trustees governed by the Financial Markets Conduct Act 2013 (FMCA). The current proposed Trusts Bill aims to restate, rather than to codify or reinvent the law for existing trusts. The proposed [...]
While the transitional period to the Financial Markets Conduct Act 2013 (FMCA) ended on 1 December 2016, wider changes are set to impact on FMCA reporting entities and trusts. The effective dates for the NZ IFRS 9 (Financial Instruments), NZ IFRS 15 (Revenue from Contracts with Customers) and NZ IFRS 16 (Leases) standards are imminent, [...]