Today marks the end of the two year period for the financial markets industry to transition to the Financial Markets Conduct Act 2013 (the FMC Act) regime, says Commerce and Consumer Affairs Minister Paul Goldsmith.
Mr Goldsmith says all offers of financial products to retail investors must now be made under the FMC Act.
“The purpose of the reforms is to increase public confidence in our financial markets and give businesses better access to capital to grow. Both aspects are vital to support New Zealand’s growing economy.