New Zealand Financial Markets Authority consults on expiring class notices and will renew climate statement and Australian licensee exemptions

The New Zealand Financial Markets Authority has issued a consultation paper on whether to remake 14 class exemption notices and three class designation notices that support the Financial Markets Conduct Act 2013 and are due to expire between December 2025 and November 2026. It has also confirmed that two of the exemptions will be continued on substantially the same basis as under the existing notices. The continued relief covers the exemption from the requirement to include climate statements in annual reports and an exemption for certain Australian licensees, with the existing notices expiring in December 2025 and April 2026 respectively. Other exemptions under review span Catalist public markets, employee share purchase schemes, forestry, property and equine bloodstock schemes, disclosure using overseas GAAP, overseas Financial Markets Conduct reporting entities, overseas banks and insurers including climate-related disclosures, incidental offers, recognised exchanges and overseas banks offering simple debt products, alongside designation notices for communal facilities in real property developments, forward foreign exchange contracts and shares in investment companies. The authority aims to finalise replacement notices for the two renewed exemptions before the current notices expire, while decisions on some of the remaining exemption notices are expected in December 2025 and further decisions around the middle of next year, following submissions that were due by 17 July 2025.