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  5. Financial Markets Conduct (US Futures Commission Merchants) Exemption Notice 2020

Financial Markets Conduct (US Futures Commission Merchants) Exemption Notice 2020

Page last updated: 29 Oct 2020
Name of noticeFinancial Markets Conduct (US Futures Commission Merchants) Exemption Notice 2020
Gazette Notification Date2020-10-29
Date In Force2020-10-31
LI NumberLI2020/279
ActFinancial Markets Conduct Act 2013
TypeClass Exemption Notice
Expiry Date2021-03-30

Summary: The Financial Markets Conduct (US Futures Commission Merchants) Exemption Notice 2020 provides relief to accredited NZX derivatives participants that are domiciled in the US and registered as futures commodity merchants (FCMs) with the Commodity Futures Trading Commission. View the exemption.

It provides a complete exemption from regulations 238-250 of the Financial Markets Conduct Regulations 2014, which impose requirements on derivatives issuers relating to the holding and application of investor money and property. The exemption is conditional upon FCMs instead holding investor money and property in accordance with applicable US law requirements. This is a renewal of an existing exemption, with no material changes. The exemption has been renewed for a five month period only.