|Name of Notice||Financial Markets Conduct (Imperium Markets Pty) Exemption Notice 2022|
|Gazette Notification Date||2022-02-18|
|Date In Force||2022-05-01|
|Act||Financial Markets Conduct|
On 16 February 2022, the FMA granted the Financial Markets Conduct (Imperium Markets Pty Limited) Exemption Notice 2022 (the Notice).
The Notice exempts Imperium Markets Pty Limited from the requirement under section 310 of the FMC Act to have a licence to operate a financial product market in New Zealand, subject to conditions. The conditions to the exemption (as set out in the Notice) place restrictions on the nature of the market, the types of product available through the market, who has access to the market and in what capacity, and the activities of Imperium Markets as operator of the market.
The key reasons for granting the exemption (as set out in full in the Statement of Reasons in the Notice) are that –
· in the context of the conditions of the exemption, the purposes of the Act relating to promoting informed participation of businesses, investors and consumers in financial markets, and promoting and facilitating the development of fair, efficient, and transparent financial markets and the additional purpose relating to investor information, can substantially be met without requiring that Imperium Markets be licenced;
This is a renewal of an existing exemption Financial Markets Conduct (Imperium Markets Pty Limited) Exemption Notice 2020 which expires on 30 April 2022.