Disclosure requirements benefit advisers: Manager
The first financial product disclosure statements issued under Financial Markets Conduct Act requirements have started to appear on the Government’s Disclose website this month.
Under the Act, product providers must issue a standardised PDS that uses clear language to explain the product. It replaces older forms of disclosure such as investment statements and prospectuses.
An entry is also created on the register of financial products, which provides all material information not contained in the PDS.
The FMA’s director for primary markets and investor resources, Simone Robbers, says the new PDS and online register mark the latest steps in the improvement of offer information for investors in New Zealand.
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