We have wide powers to exempt persons or transactions from some financial markets law requirements. These powers enable us to remove rigidities in the law and ensure requirements for businesses are reasonable and cost-effective.
In all cases we tailor the requirements to the circumstances of the offer or transaction, taking into account both the cost of compliance and the outcomes for investors and the market more generally.
Exemptions grant relief from specified provisions of the relevant legislation and can only be relied on if the terms and conditions of the exemption are complied with. Failing to comply with them amounts to a breach of the provision to which the exemption relates (unless the terms of the exemption otherwise provide).
We are aware that a number of issues may arise for market participants operating under the FMC Act regime, and exemptions may be required in some cases. We are continuing to work on a number of matters.
Please see the regulation updates that summarise the legislative notices we have issued to support the FMC Act regime.
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