Wellington Seminar - FMA's Guidance Note on Effective Disclosure

“The challenge of being clear, concise and effective”

Presentations from this seminar are now available for download below:

Sue Brown presentation - click here to download

Mark Todd presntation - click here to download

Effective disclosure is an integral part of financial markets operating efficiently. In late January the Financial Markets Authority began consulting on a guidance note to improve the disclosure provided by issuers. With that guidance nearly complete, what are the key changes FMA has made along the way? And can the clear, concise and effective standard really be achieved?

The guidance note is for issuers of securities, their directors and advisers.  It explains the approach the FMA intends to take to reviewing prospectuses and investment statements using its statutory powers, and also provides their views on good practice for preparing these disclosure documents.  The FMA have said that their guidance note will help market participants be confident they understand the regulators approach and how they interpret, and intend to apply, the law relating to their responsibilities.

The guidance note will influence the disclosure documentation of all Superannuation and KiwiSaver schemes.

Event Details:

Date: Tuesday 5th June 2012
Time: 3.15 for a 3.30pm start, networking drinks & canapes to follow at approx 4.45pm
Venue: Level 6, The Wellington Club, 88 The Terrace, Wellington
Cost: $20 per person (inc. GST)

About our Presenters:

Sue Brown
Head of Primary Regulatory Operations
Financial Markets Authority

Ms. Brown is a senior lawyer with a strong background in financial products and services, particularly in the superannuation sector, in New Zealand, Australia and the UK. She was a partner of DLA Phillips Fox until 2010.

As Head of Primary Regulatory Operations with the Financial Markets Authority, her role is to develop and lead FMA's regulatory strategies and activities relating to the primary and retail financial markets, including financial advisers.

Mark Todd
Partner, Bell Gully

Mark has broad corporate and commercial experience but is a specialist advisor on financial services and products.

Mark's extensive experience includes documenting unit trusts, superannuation schemes and insurance policies and producing disclosure documents for investment products. He advises on all aspects of government and employer-sponsored superannuation schemes, including KiwiSaver, and employee share schemes. He is also experienced in advising on corporate transactions involving the financial services industry.

He is a member of the Legislation Committee of the Financial Services Council.