Smaller DIMS investment managers get exemption from filing GAAP-compliant accounts, audits

Mon, 04 May 2015

By Jonathan Underhill May 5 (BusinessDesk) - The Financial Markets Authority has approved exemptions for smaller investment managers who provide discretionary investment management services (DIMS), meaning they don't have to prepare and lodge audited financial statements that comply with generally accepted accounting practice. The exemptions come after the FMA in March sought feedback from small and medium-sized DIMS providers on proposed changes, saying audited financial statements "may result in limited benefit to clients" while imposin...

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