KiwiSaver (Periodic Disclosure) Regulations 2013

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2013/47

KiwiSaver (Periodic Disclosure) Regulations 2013

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 25th day of March 2013

Present:
His Excellency the Governor-General in Council

Pursuant to section 70(1)(b) and (cb) of the Securities Act 1978, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister of Commerce made after consultation with the Financial Markets Authority, makes the following regulations.

Contents

Preliminary provisions

4 Interpretation

5 Compliance with notices issued by FMA and generally accepted accounting practice

6 Meaning of publicly available

Requirements for annual and quarterly disclosure statements for each fund of KiwiSaver scheme

7 Manager must complete disclosure statements in specified formats for each fund of KiwiSaver scheme

Annual disclosure statement

8 When annual disclosure statement must be completed and published

9 What annual disclosure statement must comprise

10 Period to which annual disclosure statement must relate

Quarterly disclosure statements

11 When quarterly disclosure statements must be completed and published

12 What quarterly disclosure statements must comprise

13 Period to which quarterly disclosure statements must relate

Information about performance and returns

14 Application of regulations 16 to 18

15 Meaning of return and treatment of trading expenses

16 Fund's returns

17 Graphs showing historical annual return information

18 Performance and returns example

Information about fees and costs

19 Application of regulations 21 to 25

20 Categories of fees and costs

21 Meaning of and information about fund fees

22 Information about membership fees

23 Meaning of and information about individual fees

24 Synthetic total expense ratio

25 Information about fees and costs that must be included in quarterly disclosure statements

Information about asset allocation and portfolio holdings

26 Application of regulations 27 to 30

27 Information about KiwiSaver fund's 10 highest-value individual assets

28 Additional information about individual assets required in annual disclosure statement's data file

29 Pie graph of KiwiSaver fund's assets

30 Use of estimates for asset disclosure

Information about liquidity and liabilities

31 Application of regulations 32 and 33

32 Liquidity ratio

Information about key personnel, policies, and conflicts of interest

34 Application of regulations 35 to 38

35 Information about key personnel

36 Information about conflicts of interest

37 Information about material changes to fund's trade allocation policies, trade execution policies, and proxy voting policies

38 Information about changes to KiwiSaver fund's valuation and pricing methodologies

39 Revised disclosure statements to be made publicly available in certain circumstances

40 Compliance with formats for annual and quarterly disclosure statements

41 Manager's certificate

42 How long disclosure statements must be publicly available

43 Application and transitional provisions

44 Consequential amendments to Securities Regulations 2009

Schedule 1
Application and transitional provisions

Schedule 2
Meaning of related party transaction and associated terms

Schedule 3
Annual disclosure statement template

Schedule 4
Quarterly disclosure statement template

Schedule 5
Annual disclosure statement data file template

Schedule 6
Quarterly disclosure statement data file template

Explanatory note

Administrative information