MBIE and FMA received over 40 submissions, and Cabinet has now approved these changes.Among them are significant changes to levies payable by managers or trustees in respect of securities. These changes will see more fees payable for larger offers, but less fees where assets under management are smaller. The levies will increase from 1 July 2017 as follows:
For a summary of these changes and others made, visit MBIE’s webpage here, where the complete Regulatory Impact Statement in relation to the changes can be viewed. If you have any questions about how this affects you, please contact us.