Phase two of New Zealand’s Financial Markets Authority (FMA) is poised to take effect December 1, ushering in a new era of capital markets and financial services laws that will revamp investor disclosure.
Phase two of New Zealand’s Financial Markets Authority (FMA) is poised to take effect on December 1, ushering in a new era of capital markets and financial services laws that will revamp investor disclosure.
In particular, Phase two will focus on licensing provisions, affecting several hundred businesses and triggering a substantial shift in the quality of investor disclosure for financial products in New Zealand.
Indeed, this ambition has been a long time coming, its genesis having its roots in a 2009 NZ Capital Market Development Taskforce report. The launch of Phase two largely meets the goals of the Financial Markets Conduct Act 2013 (FMC Act), capping off a fairly rapid pace of Regulation in the island nation.
According to Rob Everett, Chief Executive of the FMA Rob Everett, in a recent statement on the regulation, “New Zealand now has some of the most modern markets regulation in the world. The law that takes effect on Monday was the subject of wide consultation. It has broad support among finance professionals, businesses, legal advisers and auditors.
Firms are adjusting steadily to the new regulation. Indeed, investors and consumers are seeing results already. For example, in debt and equity offers, we’ve already seen significant improvements this year in offer documents.
Boards of issuers have recognized the objectives of the FMC Act and applied the clear, concise and effective principle to their offer documents, even though the new disclosure standards only take effect from 1 December.”
“New Zealand has taken a coherent approach, recognizing that regulation works when it’s implemented as a whole. It’s also a coordinated approach that’s designed to provide results without imposing substantial, unnecessary costs,” Everett added.
According to an FMA statement, the paramount provisions of the FMC Act include:
Product disclosure statements for financial products – including debt and equity – made concise, and subject to page limits. An online register will include all the material information on offers under the FMC Act. Offers can be made under the Securities Act 1978 during a transition period, but the FMA encourages issuers to shift to the new arrangements at the earliest opportunity.
Further professionals come under FMA licensing, including managers of registered schemes (managed investment schemes), derivatives issuers, and independent trustees of restricted schemes. Providers of discretionary investment managements services (DIMS) will also be licensed.
As a result of the passage of the mandate, hundreds of organizations and market participants are expected to be eyeing new licenses over the next 24 months – this should bring the jurisdiction of the FMA to over 11,000 firms and entities.
Phase two of New Zealand’s Financial Markets Authority (FMA) is poised to take effect on December 1, ushering in a new era of capital markets and financial services laws that will revamp investor disclosure.
In particular, Phase two will focus on licensing provisions, affecting several hundred businesses and triggering a substantial shift in the quality of investor disclosure for financial products in New Zealand.
Indeed, this ambition has been a long time coming, its genesis having its roots in a 2009 NZ Capital Market Development Taskforce report. The launch of Phase two largely meets the goals of the Financial Markets Conduct Act 2013 (FMC Act), capping off a fairly rapid pace of Regulation in the island nation.
According to Rob Everett, Chief Executive of the FMA Rob Everett, in a recent statement on the regulation, “New Zealand now has some of the most modern markets regulation in the world. The law that takes effect on Monday was the subject of wide consultation. It has broad support among finance professionals, businesses, legal advisers and auditors.
Firms are adjusting steadily to the new regulation. Indeed, investors and consumers are seeing results already. For example, in debt and equity offers, we’ve already seen significant improvements this year in offer documents.
Boards of issuers have recognized the objectives of the FMC Act and applied the clear, concise and effective principle to their offer documents, even though the new disclosure standards only take effect from 1 December.”
“New Zealand has taken a coherent approach, recognizing that regulation works when it’s implemented as a whole. It’s also a coordinated approach that’s designed to provide results without imposing substantial, unnecessary costs,” Everett added.
According to an FMA statement, the paramount provisions of the FMC Act include:
Product disclosure statements for financial products – including debt and equity – made concise, and subject to page limits. An online register will include all the material information on offers under the FMC Act. Offers can be made under the Securities Act 1978 during a transition period, but the FMA encourages issuers to shift to the new arrangements at the earliest opportunity.
Further professionals come under FMA licensing, including managers of registered schemes (managed investment schemes), derivatives issuers, and independent trustees of restricted schemes. Providers of discretionary investment managements services (DIMS) will also be licensed.
As a result of the passage of the mandate, hundreds of organizations and market participants are expected to be eyeing new licenses over the next 24 months – this should bring the jurisdiction of the FMA to over 11,000 firms and entities.
StoneX’s Q2 FX and CFDs Revenue Jumps despite Trading Volume Drop
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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