Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Disclosure of offers of financial products - Procedure for making regulated offers - Other provisions relating to lodging of PDS and other documents

64: Registrar must notify FMA of lodgement of PDS

You could also call this:

"Registrar must tell the Financial Markets Authority when a company's investment information is lodged"

When you lodge a Product Disclosure Statement, the Registrar tells the Financial Markets Authority right away. The Financial Markets Authority then looks at the statement and other documents to check if the offer of financial products follows the law. They consider whether the offer is compliant with the Financial Markets Conduct Act.

The Financial Markets Authority decides how closely they want to look at these documents. They can choose to consider some things carefully and others not so much. This is up to them to decide.

The Financial Markets Authority can look at these documents again at any time if they want to. They can check if the offer of financial products is still following the law. You can find more information about this by looking at the Financial Markets Conduct Act and other related laws, such as the law referenced in the Securities Act 1978.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091012.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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"Telling the Registrar important extra information when lodging documents"

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65: Waiting period after lodgement before processing applications for financial products, or

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Part 3Disclosure of offers of financial products
Procedure for making regulated offers: Other provisions relating to lodging of PDS and other documents

64Registrar must notify FMA of lodgement of PDS

  1. The Registrar must, immediately after a PDS is lodged, notify the FMA of the lodgement for the purpose of allowing the FMA an opportunity to consider the PDS, any governing document, and whether the offer, or intended offer, of financial products will be made in compliance with this Act.

  2. The nature and extent of the consideration under subsection (1) (if any) is at the FMA's discretion.

  3. Nothing in this section or any other provision of this Act limits the FMA's power to consider or reconsider at any time any of the matters referred to in subsection (1).

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