4 Sep 2012

Final guidance note issued by FMA

7:25 am on 4 September 2012

The Financial Markets Authority has released its final guidance note for companies to disclose financial information in a way that won't be misleading.

The FMA says companies are using terms such as underlying earnings, normalised profit and adjusted earnings which lack standard meaning.

Consultation was held after criticism was expressed about the costs and complexity of earlier drafts.

Chapman Tripp partner Roger Wallis says the guidance means current regulations are failing.