Financial Markets Conduct Act 2013

461K FMC reporting entities considered to have higher level of public accountability

(1)

The following FMC reporting entities are considered to have a higher level of public accountability than other FMC reporting entities:

(a)

issuers of equity securities or debt securities under a regulated offer:

(b)

managers of registered schemes, but only in respect of financial statements of a scheme or fund prepared under section 461A:

(c)

listed issuers:

(d)

registered banks:

(e)

licensed insurers:

(f)

credit unions:

(g)

building societies:

(h)

an FMC reporting entity, or a class of FMC reporting entities, specified for the purposes of this paragraph by a notice issued under section 461L(1)(a).

(2)

However, an FMC reporting entity, or a class of FMC reporting entities, is not considered to have a higher level of public accountability than other FMC reporting entities if the entity or class is specified for the purposes of this subsection by a notice issued under section 461L(1)(b).

(3)

Subsection (1)(b) does not limit subsection (1)(h).

Section 461K: inserted, on 1 April 2014, by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

Section 461K heading: amended, on 9 August 2017, by section 82 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).