Most existing property syndicates or schemes that invest their assets in real property and are closed off to new investors will be considered managed investment schemes (MISs) under the Financial Markets Conduct Act 2013 (the FMCA), and will need to comply with the FMCA by 1 December 2016. An MIS must have: a licensed manager; [...]
The Financial Markets Authority (FMA) recently released a consultation paper which proposes Financial Markets Conduct Act 2013 (FMCA) relief for overseas issuers and overseas reporting entities. Under the Securities Act 1978 and the Financial Reporting Act 1993 overseas issuers are able to rely on exemptions to disclosure, governance, and financial reporting requirements. These exemptions have [...]
The Financial Markets Conduct Amendment Regulations 2015 were enacted in November last year, with most of the amendments coming into force on 1 December 2015. However, some amendments relating to disclosure requirements will be coming into force on 1 June 2016. These amendments were introduced to address disclosure matters relating to non-standard offers. Some of [...]