Unlisted seeks ministerial exemption from new financial market rules

Tue, 21 Apr 2015

By Tina Morrison April 21 (BusinessDesk) - Unlisted, the share trading platform, is petitioning Commerce Minister Craig Foss for exemption from a rule change requiring it to be licenced by the Financial Markets Authority, saying the cost would be prohibitive for its service for smaller companies. Under the Financial Markets Conduct Act, which came into force in December, Unlisted had to either apply for a licence from the FMA, seek an exemption, or shut down. Unlisted currently requires minimal disclosure, keeping costs low for the 17 sec...

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