FMA revised draft guidance on effective disclosure

The Financial Markets Authority (FMA) has recently published their revised draft guidance note for issuers of securities, and their directors and advisers, on preparation of effective disclosure documents. The revised document does not change or add to existing legal requirements but seeks to help issuers comply with those requirements, and have confidence that they understand [...]

April 1st, 2012|Categories: Legal Developments|Tags: , |

Tougher consumer credit laws

Following the August 2011 financial summit, the Government has now approved a range of consumer credit laws that are designed to protect financially vulnerable consumers from loan sharks. The Consumer Contracts and Consumer Finance Act 2003 will be strengthened by including new responsible lending requirements where the borrower must be reasonably expected to repay the [...]

April 1st, 2012|Categories: Legal Developments|Tags: |

The gifting debate continues

While there is now no requirement to enter into extensive gifting programmes in order to transfer assets from personal ownership into a family trust, the abolition of gift duty on 1 October 2011 has created other implications which clients need to consider before disposing of their assets. In particular, section 147(a) of the Social Security [...]

April 1st, 2012|Categories: Legal Developments|Tags: |