NEW ZEALAND GAZETTE, No. 163

27 OCTOBER 2011

Financial Markets Authority

Securities Markets Act 1988

The Authorised Futures Dealers (CMC Markets NZ Limited) Notice 2011

Pursuant to section 38 of the Securities Markets Act 1988, the Financial Markets Authority gives the following notice.

Notice

1. Title, commencement, and expiry—(1) This notice is the Authorised Futures Dealers (CMC Markets NZ Limited) Notice 2011.

   (2) This notice comes into force on 1 November 2011.

   (3) This notice expires on the close of 31 October 2014.

2. Interpretation—(1) In this notice, unless the context otherwise requires:

   Act means the Securities Markets Act 1988.

   advertisement has the meaning given to it in section 2A of the Securities Act 1978, except that every reference to securities should be read as a reference to specified futures contracts, and every reference to the issuer should be read as a reference to the Company.

   approved counterparty means a registered bank, an overseas bank, a company which is an authorised deposit-taking institution under the Banking Act 1959 (Commonwealth of Australia), or a company which is registered as a BIPRU 730k firm with the FSA.

   Auditor means the qualified auditor who has been appointed by the Company and entered into agreed upon procedures with the Company in accordance with clause 5(1) and (2) of this notice.

   Australian Financial Services Licence means a financial services licence issued under chapter 7 of the Corporations Act 2001.

   CMC means CMC Markets Asia Pacific Pty Limited.

   Company means CMC Markets NZ Limited.

   disclosure document means a written document:

   (a) describes and contains the offer of, and relates specifically to, the specified futures contracts; and

   (b) includes all material matters applicable to the specified futures contracts from the current product disclosure statement issued by CMC in Australia under the Corporations Act 2001, with such changes as are necessary to:

   (i) reflect the identity of the Company as the issuer of the specified futures contracts;

   (ii) exclude matters that are only relevant to the requirements of CMC’s Australian Financial Services Licence; and

   (iii) reflect that the offer is made in New Zealand.

   discretionary investment management service has the meaning given to that term by section 12 of the Financial Advisers Act 2008.

   FSA means Financial Services Authority of the United Kingdom.

   offence of dishonesty means:

   (a) an offence described in any of sections 104, 105B, 108 to 117, and 217 to 266 of the Crimes Act 1961;

   (b) an offence described in any of sections 15 to 20 of the Summary Offences Act 1981; and

   (c) an offence under the laws of another jurisdiction which is equivalent to an offence referred to in paragraphs (a) or (b).

   Prescribed Liquid Funds Amount is the amount specified in clause 4(3).

   qualified auditor has the same meaning as in section 2C of the Securities Act 1978.

   regulated related party means a related party which is:

   (a) the holder of an Australian Financial Services License;

   (b) a BIPRU 730 firm registered with the FSA; or

   (c) is approved in writing for that purpose by the Financial Markets Authority, whether individually or by reference to a class of licence held by that firm.

   Regulations means the Futures Industry (Client Funds) Regulations 1990.

   remuneration means any commission, fee or other benefit, whether pecuniary or non-pecuniary, and whether direct or indirect; but in the case of an adviser, does not include wages or salary which are of a fixed amount.

   specified futures contract means a futures contract that is:

   (a) a contract for difference; or

   (b) an option in respect of foreign currency or other forward foreign exchange contract that is issued by the Company and described in the disclosure document; and

   (c) that is issued by the Company and described in the disclosure document.

   Surplus Liquid Funds has the meaning set out in clause 4(4).

   (2) Any term or expression that is defined in the Act or the Regulations and used, but not defined, in this notice has the same meaning as in the Act or the Regulations.

3. Authorisation—(1) The Company is authorised to carry on the business of dealing in specified futures contracts to which the Company is, or intends to be, a party.