Consultation: Class exemption renewal for disclosure of relevant interests by directors and senior managers, and NZCDC Settlement System

Final date for submission 5pm, Friday 21 June 2024 
Consultation documentsConsultation paper: Class exemption renewal for disclosure of relevant interests by directors and senior managers, and NZCDC Settlement System
Submission form  Submission form:  Class exemption renewal for disclosure of relevant interests by directors and senior managers, and NZCDC Settlement System
Email for submission [email protected]

We are reviewing whether to renew two existing class exemption notices for a further five years:

  • The Financial Markets Conduct (Disclosure of Relevant Interests by Directors and Senior Managers) Exemption Notice 2019 – this provides conditional relief for directors and senior managers of listed issuers from the requirements of the Financial Markets Conduct Act 2013 (FMC Act) to disclose relevant interests in quoted financial products of the listed issuer or a related body corporate where:
    • the financial product is an interest in a passive fund; or
    • financial products of the listed issuer are approved for trading on a financial product market authorised to operate in Australia or the United Kingdom, and a valid disclosure has been made under the listing rules of that other market.
  • The Financial Markets Conduct (NZCDC Settlement System) Exemption Notice 2019 – this provides relief for clearing and depository participants from the substantial holding disclosure requirements of the FMC Act for interests that arise in the course of certain clearing and settlement activities and not on a participant’s own account.

We invite your feedback to support our review of these exemption notices. Please use the feedback form above.

Download Consultation paper: Class exemption renewal for disclosure of relevant interests by directors and senior managers, and NZCDC Settlement System [PDF]

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