Source: http://fma.govt.nz/compliance/designations/exemption-categories-2/
Timestamp: 2016-09-30 18:30:23
Document Index: 51245504

Matched Legal Cases: ['art 3', 'art 3', 'art 1', 'art 3', 'art 3', 'art 3']

About designations » FMA
What designations can the FMA make?
What happens when a designation is applied to a financial product?
How will a designation apply?
the economic substance of the relevant security and (where the designation will call in an offer for sale to the Part 3 disclosure regime) whether the offer was made for circumvention purposes. We must also consult with substantially affected parties. How will a designation apply?
Designations may declare that:
a security is a financial product of a particular kind
We can call in securities that are not financial products into the FMC regime. a security that would otherwise be a financial product of one kind is a financial product of a different kind We can recategorise a financial product (eg from equity to debt) a security that would otherwise be a financial product is not a financial product
We can exclude financial products from the FMC Act regime Related powers:
Designation that removes the application of a statutory exemption Designations may declare that:
an offer of issued financial products that is exempt from disclosure under Part 3 due to an exclusion under Part 1 of Schedule 1, be required to provide disclosure We can stop a Schedule 1 exclusion applying to an offer and bring the offer back within the Part 3 disclosure regime. an offer of financial products for sale that would not otherwise require disclosure under Part 3, does require disclosure We can call-in offers of products for sale to be regulated under the Part 3 disclosure regime. a person, service, or conduct not be subject to certain exemptions from DIMS licensing in s 389(2) We can call-in certain DIMS providers (who would otherwise not be required to be licensed) to be licensed under the FMC Act. a person, service, or conduct to not have exemptions or exclusions that would otherwise apply under section 238 (1)(a) to (h) section 285, section 287, or section 309