New Zealand Financial Markets Authority reviews expiring class exemption and designation notices and will continue relief for two exemptions

The New Zealand Financial Markets Authority (FMA) published a consultation paper on its review of 14 class exemption notices and three class designation notices supporting the Financial Markets Conduct Act 2013 regime, with the relevant notices due to expire between December 2025 and November 2026. Following submissions, the FMA decided to grant continued exemption relief on substantially the same basis for the exemptions covering the requirement to include climate statements in annual reports and Australian licensees. The review spans exemptions for areas including Catalist public markets, employee share purchase schemes, forestry and property schemes, equine bloodstock, disclosure using overseas generally accepted accounting principles, overseas reporting entities, overseas registered banks and licensed insurers (including climate-related disclosures for overseas banks and insurers), incidental offers, recognised exchanges and overseas banks offering simple debt products. The designation notices under review relate to communal facilities in real property developments, forward foreign exchange contracts and shares in investment companies. The climate statements and Australian licensees exemption notices are due to expire in December 2025 and April 2026, and the FMA aims to finalise replacement notices before those dates. Decisions on the remaining exemption notices expiring in 2026 are expected in stages, with some targeted for December 2025 and others around mid-2026.