|Name of Notice||Financial Markets Conduct (Financial Reporting – DIMS Licensees) Exemption Notice 2020|
|Gazette Notification Date||2020-05-12|
|Date In Force||2020-06-05|
|Act||Financial Markets Conduct Act 2013|
|Type||Class Exemption Notice|
Summary: The Financial Markets Conduct (Financial Reporting – DIMS Licensees) Exemption Notice 2020 grants an exemption in favour of small to medium-sized licensed providers of DIMS. It provides relief from certain financial reporting and audit obligations under the FMC Act.
The principal effects of the notice are as follows:
The exemptions do not apply if a DIMS licensee is an FMC reporting entity for any other reason, doesn’t have an independent custodian, or the licensee has more than $250 million in retail funds under management.