The Financial Markets Conduct Amendment Regulations 2015 were enacted in November last year, with most of the amendments coming into force on 1 December 2015. However, some amendments relating to disclosure requirements will be coming into force on 1 June 2016. These amendments were introduced to address disclosure matters relating to non-standard offers. Some of the key amendments to disclosure requirements are:
- simplified disclosure offers for debt and equity securities that rank equally or in priority to quoted securities (simplified disclosure offers);
- amending the limited disclosure document requirements in Schedule 9 of the Financial Markets Conduct Regulations to provide for bank hybrid products; and
- provision for modification of a Product Disclosure Statement for an offer of debt securities, where the securities are issued by a managed investment scheme.