Discussion document Review of Securities Law.
Discussion document Review of Securities Law.
Date added: Wednesday, 23 June 2010 09:32
The discussion document proposes a new Securities Act to replace the Securities Act 1978 and the Securities Markets Act 1988.
The discussion document deals with:
- The definition of financial products for the purposes of the new Act;
- The types of offers of financial products that are subject to the Act and the exemptions that apply for certain investors;
- The disclosure requirements for issuers covered by the Act;
- The governance of managed funds; and
- A range of other matters including potential additional powers for the Financial Markets Authority.
The proposals in the paper follow up on a number of recommendations of the Capital Market Development Taskforce.
Closing date for submissions is 20 August 2010.
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