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

 


FMCA Regulations - Cabinet decisions released

FMCA Regulations - Cabinet decisions released

In our FMCA update of 24 July, we indicated that further Cabinet decisions were to be made on the final policy decisions for FMC Regulations.

The Cabinet decisions have now been released and are available here.

Decisions include:

• confirming the most recent proposals on fixed page lengths for the PDS

• confirming the PDS for debt and equity to include:
- three years of summary financial information prepared under GAAP
- two years of prospective financial information - unless it would be misleadingto do so

• allowing summaries of material contracts to be placed on the online register instead of the full material contract

• confirming the requirement for debt offers to contain a diagram illustrating ranking – this has recently become a market practice

• clarifying the obligations of auditors to report to supervisors

• allowing securities market operators (other than NZX) an extra year to obtain a licence (for example, Unlisted)

• allowing derivative issuers until 1 May 2015 to adopt the new PDS requirements (or 1 December 2015 if offer documents are already required by their licence), and

• allowing until 1 December 2015 for derivative issuers to adopt new investor fund custodian requirements.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tubes: Tasman Global Access Cable Goes Live

Spark, Vodafone and Telstra have today announced the Tasman Global Access (TGA) cable is officially in service and ready to carry vast quantities of Internet traffic between New Zealand and the world. More>>

ALSO:

Theresa Does: Brexit Letter Sees NZD Touch Week-High Vs GBP On Brexit

The New Zealand dollar rose to a week-high against the British pound and euro after UK Prime Minister Theresa May officially triggered Britain's exit from the European Union. More>>

ALSO:

Statistics: Business Research And Development Up 29 Percent

Computer services and machinery manufacturing firms led the way in an almost 30 percent lift in business spending on research and development (R&D) in 2016, Stats NZ said today. Businesses spent $1.6 billion on R&D in 2016, up $356 million (29 percent) from 2014. More>>

ALSO:

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news