Disclosure rules change
PA Wellington The Securities Commission has changed the disclosure rules for finance companies so that they only have to provide a prospectus if investors ask for one. The Financial Services Association (FSA) has been involved in discussions to liberalise disclosure by prospectus, the
executive director, Mr Ken Baker, said. From December 1, the compulsory obligation for finance houses and for commercial bill dealers to supply prospectuses to new and existing clients will be removed. An up to date prospectus that is not misleading must still be on display and clients must be notified it is available.
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Press, 6 October 1987, Page 48
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99Disclosure rules change Press, 6 October 1987, Page 48
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