A securities lawyer says changes to new requirements for companies trying to raise money from the public have made it better and more workable.
The Financial Markets Authority has finalised its guidance on how to prepare and present effective prospectuses and investment statements by avoiding unnecessary jargon and confusing information.
Following strong concerns from industry players about the costs and complexities involved, Chapman Tripp partner Roger Wallis says the authority's changes should suit investors and issuers.
"They've made even clearer some of the distinctions between what goes in an investment statement compared to what goes in a prospectus."
He says the requirements are now more useful for industry participants such as registered banks.