The New Zealand Financial Markets Authority has published a consultation paper proposing a class exemption to provide relief from certain reporting, audit and assurance obligations for registered managed investment schemes that are in wind-up under the Financial Markets Conduct Act 2013 and the Financial Markets Conduct Regulations 2014. The proposals are framed around the shift in a scheme’s objectives and priorities during wind-up, where the costs of complying with some obligations may outweigh the benefits if the original purpose of those requirements is no longer fully met. The consultation notes the aim of reducing unnecessary compliance costs and promoting flexibility while still ensuring investors receive timely, accurate and understandable information and that appropriate governance arrangements apply. Submissions close at 5pm on Monday 12 May 2025.
New Zealand Financial Markets Authority 2025-03-17
New Zealand Financial Markets Authority consults on class exemption from reporting and audit obligations for managed investment schemes in wind-up
The New Zealand Financial Markets Authority has issued a consultation paper proposing a class exemption from certain reporting, audit, and assurance obligations for registered managed investment schemes in wind-up, aiming to reduce unnecessary compliance costs while maintaining investor information and governance standards. Submissions are due by 5pm on 12 May 2025.