The New Zealand Financial Markets Authority has issued a consultation paper on a proposed class exemption that would allow listed issuers to buy back their own quoted debt securities with relief from certain unsolicited offer regulations. The consultation page also notes a decision in principle to grant the exemption, with a notice to be finalised to give effect to that decision. If granted, the exemption would permit off-market buy-backs without complying with certain disclosure and timing requirements for unsolicited offers in the Financial Market Conduct Regulations 2014, including preparing specified information in a disclosure document and meeting offer-period and acceptance timing rules. The exemption would be subject to conditions requiring the issuer to make information about the buy-back offer available. Submissions on the consultation paper were invited by 25 July 2025, and the FMA plans to finalise a notice to implement the exemption.
New Zealand Financial Markets Authority 2025-06-13
New Zealand Financial Markets Authority decides in principle on a class exemption easing unsolicited offer rules for listed issuers buying back quoted debt
The New Zealand Financial Markets Authority has issued a consultation paper on a proposed class exemption allowing listed issuers to buy back their own quoted debt securities with relief from certain unsolicited offer regulations. Submissions are invited by 25 July 2025, with plans to finalize a notice to implement the exemption.