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Financial Markets Authority Act 2011

Financial Markets Authority - Miscellaneous matters

23: FMA's warnings, reports, guidelines, or comments protected by qualified privilege

You could also call this:

“The FMA can share information safely while doing its job”

The Financial Markets Authority (FMA) is protected when it issues warnings, reports, guidelines, or comments as part of its job. This protection is called qualified privilege. It means that if the FMA says or writes something while doing its work, it’s treated as if it were an official report made by someone holding an inquiry for the New Zealand Parliament. This protection comes from a specific part of the Defamation Act 1992. The law treats the FMA’s statements this way to help the FMA do its job without worrying too much about being sued for defamation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231087.

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22: Protection from liability for FMA and members and employees, or

"FMA and its people can't be sued for doing their job unless they were really careless"

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Part 2 Financial Markets Authority
Miscellaneous matters

23FMA's warnings, reports, guidelines, or comments protected by qualified privilege

  1. For the purposes of clause 3 of Part 2 of Schedule 1 of the Defamation Act 1992, any warning, report, guideline, or comment issued or made by the FMA in the course of the performance or intended performance of its functions must be treated as an official report made by a person holding an inquiry under the authority of the Parliament of New Zealand.

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