The FMA is seeking submissions on its proposal to enable companies offering investments to publish product disclosure statements (PDS) in both te reo Māori and English.
Under the current regulations, companies offering investments are effectively prevented from providing a PDS in more than one language due to prescribed length limits. These limits were imposed to address issues with disclosure documents prepared under the Securities Act.
An exemption would exempt issuers from these length limits. To qualify for the exemption, the two languages would need to accurately and fully reflect each other. The length limit would remain in force for the English part of the PDS.
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