This guidance note outlines our expectations for how issuers of debt securities, managers of managed investment schemes and their supervisors should approach their governance accountabilities and responsibilities. It describes how the overarching duties of care, acting in the best interests of clients, and fair dealing set the scene for how each participant meet their governance responsibilities. It also describes how participants must interact with each other and with the FMA and addresses the need for governing documents to be effective and fit for purpose.
This information sheet outlines new reporting duties under Part 4 of the FMC Act. It includes a table showing the reporting requirements for debt issuers, MIS managers / trustees of restricted schemes, supervisors, auditors, custodians, actuaries, investment managers and administration managers.