The FMA has released its guidance note on the disclosure of non-GAAP financial information. The guidance note acknowledges that non-GAAP financial information can be useful to investors, but that the information must not be misleading. The note sets out in some detail the FMA's views as to how this information should be presented in the context of financial statements and offer documents, as well as more generally in investor communications. The FMA will begin using the guidance when reviewing non-GAAP financial information disclosures from 1 January 2013. A copy of the guidance note is available here.