FMA consultation on expiring class exemption notices
Today the Financial Markets Authority (FMA) published a consultation paper seeking feedback in relation to its review of 16 expiring class exemption notices that support the regime under the Financial Markets Conduct Act 2013. These notices will expire between August and December 2021.
Who needs to read it? Why?
Businesses relying on or looking to rely on the expiring exemption notices below should take the opportunity to provide feedback through this consultation so that the FMA can review whether the expiring notices remain effective in providing relief.
What does it cover?
The 16 expiring class exemption notices that the FMA are looking for feedback on are:
- Employee share purchase schemes
- Licensed independent trustees of restricted schemes
- Overseas subsidiary balance date alignment
- Communal facilities in real property developments
- Equine bloodstock
- Forestry schemes
- Property schemes – custody of assets
- Employee share purchase schemes shares offered under Securities Act 1978
- Small co-operatives
- Disclosure using overseas GAAP
- Overseas FMC reporting entities
- Overseas registered banks and licensed insurers
- Incidental offers
- Recognised exchanges
- Securities Offered under Securities Act 1978 Exemptions Recognising Overseas Regimes
- Overseas Banks offering simple debt products
Submissions close on 20 August 2020 and may be sent to email@example.com.
If you have any questions in relation to how the exemption notices may apply to you or would like our help in making submissions, please contact one of our experts.