Questions for Submitters
Q1 Do you agree that the financial statements in the prospectuses for equity, debt, and participatory securities should be prepared in accordance with GAAP? If these financial statements are prepared in accordance with GAAP, are there any additional matters that are not included in GAAP that you think should also be included in these financial statements?
Q2 Do you agree that the definition of borrowing group should include guaranteeing parent and sister companies as well as guaranteeing subsidiaries?
Q3 Do you agree that the summary financial statements in prospectuses should be prepared in accordance with the applicable financial reporting standard?
Q4 Do you agree that issuers should be required to include a full set of prospective financial statements in their prospectus in circumstances where they are currently required to only include a prospective statement of cash flows?
Q5 If issuers are required to include a full set of prospective financial statements in their prospectuses in the circumstances described in question 4, do you agree that these prospective financial statements should be prepared in accordance with the applicable financial reporting standard?
Q6 Do you agree that the issuers of participatory securities should be required to include the principle terms of their deed of participation in prospectuses, rather than having the option of simply attaching the deed itself?
Q7 Do you agree that the requirements for the disclosure of directors/managers' and promoters' interests for issuers of equity and participatory securities should be broadened to aligned with the equivalent requirements for unit trusts, life insurance policies, and superannuation schemes?
Q8 Do you agree that information from interim financial statements about the net assets or the amount of assets and liabilities of an issuer should be able to be cited in an advertisement?
Q9 Do you agree that information from unaudited full or interim financial statements about the net assets or the amount of assets and liabilities of an issuer should be able to be cited in an advertisement, so long as the advertisement makes it clear that the full or interim financial statements have not been audited?
Q10 Do you agree that the consideration to be paid for a security should be able to be determined by reference to a formula, so long as the formula is set out in full and clearly explained?
Q11 Do you agree that an advertisement should be able to contain prospective financial information in the form of commentary or analysis of prospective financial information contained in the registered prospectus, so long as it sets out the principal assumptions and method of calculation of that information? If so, do you also consider that this amendment should apply to all prospective financial information, and not just prospective financial information in the form of commentary or analysis on prospective financial information in the registered prospectus?
Q12 Do you agree that interim financial statements in prospectuses should be prepared in accordance with the applicable financial reporting standard?
Q13 Do you agree that the current regulation 17(6) should be expanded to make it an offence for a person to post an advertisement on a website without a signed certificate?
Q14 Do you have any comment on the intention to undertake a limited rewrite of the regulations?
Q15 Do you have any comments on the technical changes to the securities regulations set out in appendix 1?
Q16 Do you think that the application of the Simplified Disclosure Prospectus should be restricted to certain non-complex products? If so, to which non-complex products do you think the Simplified Disclosure Prospectus should be restricted?
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