Financial Markets Authority - consultation on effective disclosure - Webinar

Registrations for this webinar have now closed. You will be able to purchase an archived version of the presentation after the webinar has concluded.

New disclosure document expectations from 1 May 2012

Disclosure is one of the pillars of fair, efficient and transparent financial markets. Transparency comes from effective disclosure and is a necessary pre-requisite for efficiency and fairness. Every issuer of securities must comply with all legal requirements for disclosure documents, however compliance is not always achieved.

An overly technical or “tick box” compliance approach can lead to ineffective disclosure documents that potential investors cannot read or understand. This can prevent confident and informed participation in financial markets – one of FMA’s key objectives.

FMA has released draft guidance on Effective Disclosure and is currently consulting with a wide range of stakeholders on the proposed guidance.

The guidance addresses the factors FMA has identified as a barrier to effective disclosure such as: undue length of disclosure documents, over reliance on marketing and brand information, use of jargon or complex information, use of templates with little regard to the circumstances of the particular offer.

This is the ideal opportunity to learn about FMA’s rationale for issuing guidance now, discuss some of the key issues, ask questions and learn about the proposed timetable for publication of, and compliance with the guidance.

Presenters: Sue Brown and Simone Robbers