Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


FMA Financial Markets Confidence Survey Results Promising

FMA Financial Markets Confidence Survey Results Promising

20 May 2014

The Financial Markets Authority survey released today showing increased public confidence in New Zealand’s financial markets is good news and suggests that the substantial legislative reforms of the past several years are making a mark.

We would expect further improvements, given that a major source of continuing investor dissatisfaction – lengthy prospectuses and investment statements – is in the process of being addressed. Just as importantly, the freeing up of capital raising rules will likely open up opportunities for retail investors.

The Ministry for Business, Innovation and Employment (MBIE) has just put out for consultation draft disclosure regulations under the Financial Markets Conduct Act (FMCA) for the core financial products – including equity and debt offerings.

The key offer document under the new FMCA regime will be a PDS, the content and length of which will be prescribed with the aim of encouraging shorter documents which are more accessible and reader-friendly.

The FMA effectively brought forward these changes by allowing two recent equity issuers – Genesis and Intueri – to use a “PDS-like” format. This required securing a special exemption from the normal Securities Act requirements. Chapman Tripp was heavily involved in both of these IPOs.


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news