New Zealand’s Financial Markets Authority has announced that the Financial Reporting Act, which will implement market-wide parity for financial reporting obligations in NZ, is poised take effect on April 1.
New Zealand’s Financial Markets Authority (FMA) has announced that the Financial Reporting Act, which will implement market-wide parity for financial reporting obligations in NZ, is poised take effect on April 1, 2014, via an FMA statement.
The Financial Reporting Act will stipulate that small and medium-sized companies will be required to prepare simplified statements on their financial activity by April 1. Signed earlier this week by the Order in Council, the act effectively sets minimum requirements for these statements – ultimately it is hoped the fullfillment of this act will yield significant compliance cost savings for many businesses that participate, a point of previous contention among skeptics.
This clearly underscores a need for NZ, and according to Commerce Minister Craig Foss in a recent statement on the Regulation, “Now is the time for small and medium-sized companies to make sure they understand how the changes affect their financial reporting obligations. Medium-sized companies will no longer be required to produce complex financial statements under the Financial Reporting Act, which will mean a substantial reduction in compliance costs for most companies with annual revenue between $2 million and $30 million.”
Furthermore, “As the New Zealand economy grows, the government is focused on removing obstacles for companies. Changing the requirements for financial reporting to Inland Revenue will reduce the compliance burden for most companies, freeing them up to concentrate on building their business and creating jobs,” added FMA Revenue Minister Todd McClay.
Regulation Still Has a Way to Go in Terms of Unlicensed FX Providers
Indeed, the country has previously taken measures to foster increased transparency, such as the Financial Markets Conduct Act, which was passed last September in an effort to regulate derivatives and FX markets. According to Chris Smith, Head of CMC Markets in New Zealand in an exclusive interview with Forex Magnates, “The new act will create a level playing field at the end of this year once the law is implemented in full. One of the challenges will be to see how the policing of unlicensed FX providers will be enforced by the FMA, and if new regulations for derivatives providers coming into play can ensure client funds are more secure and providers have strict licensing processes in place. Currently New Zealand is seen as a low-risk environment to enter and unlicensed providers risk damaging the NZ FX industry. The new derivative licensing regime was a long time coming through parliament that should have happened earlier – numerous unlicensed FX providers are presently operating in NZ.”
New Zealand’s Financial Markets Authority (FMA) has announced that the Financial Reporting Act, which will implement market-wide parity for financial reporting obligations in NZ, is poised take effect on April 1, 2014, via an FMA statement.
The Financial Reporting Act will stipulate that small and medium-sized companies will be required to prepare simplified statements on their financial activity by April 1. Signed earlier this week by the Order in Council, the act effectively sets minimum requirements for these statements – ultimately it is hoped the fullfillment of this act will yield significant compliance cost savings for many businesses that participate, a point of previous contention among skeptics.
This clearly underscores a need for NZ, and according to Commerce Minister Craig Foss in a recent statement on the Regulation, “Now is the time for small and medium-sized companies to make sure they understand how the changes affect their financial reporting obligations. Medium-sized companies will no longer be required to produce complex financial statements under the Financial Reporting Act, which will mean a substantial reduction in compliance costs for most companies with annual revenue between $2 million and $30 million.”
Furthermore, “As the New Zealand economy grows, the government is focused on removing obstacles for companies. Changing the requirements for financial reporting to Inland Revenue will reduce the compliance burden for most companies, freeing them up to concentrate on building their business and creating jobs,” added FMA Revenue Minister Todd McClay.
Regulation Still Has a Way to Go in Terms of Unlicensed FX Providers
Indeed, the country has previously taken measures to foster increased transparency, such as the Financial Markets Conduct Act, which was passed last September in an effort to regulate derivatives and FX markets. According to Chris Smith, Head of CMC Markets in New Zealand in an exclusive interview with Forex Magnates, “The new act will create a level playing field at the end of this year once the law is implemented in full. One of the challenges will be to see how the policing of unlicensed FX providers will be enforced by the FMA, and if new regulations for derivatives providers coming into play can ensure client funds are more secure and providers have strict licensing processes in place. Currently New Zealand is seen as a low-risk environment to enter and unlicensed providers risk damaging the NZ FX industry. The new derivative licensing regime was a long time coming through parliament that should have happened earlier – numerous unlicensed FX providers are presently operating in NZ.”
Interactive Brokers Expands Offerings with Daily Options on French Stocks
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.
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
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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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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
📣 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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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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
📣 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!
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:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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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
📣 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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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.
📣 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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