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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - General information-gathering powers - Power to obtain information, documents, and evidence

25: FMA may require person to supply information, produce documents, or give evidence

You could also call this:

“FMA can ask you for information, papers, or to talk to them”

The Financial Markets Authority (FMA) can ask you for information if they need it to do their job. They can send you a written notice asking you to:

  1. Give them information within a certain time and in a specific way.

  2. Show them documents, or give the documents to someone they choose, within a certain time and in a specific way.

  3. Help them understand information that’s stored in documents, by explaining it or making it easier to read.

  4. Come to a meeting to talk to them or write something down, and bring any documents they ask for.

The FMA can also ask for this information to help other countries’ financial regulators.

If they ask you for written information, you need to write it down and sign it the way they tell you to.

If you show them a document, they can look at it, make notes about it, and make copies of all or part of it.

The FMA can choose their own staff or other qualified people to receive the information or documents.

There are other rules about how the FMA can use these powers, which you can find in another part of the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231092.

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Part 3 General information-gathering and enforcement powers
General information-gathering powers: Power to obtain information, documents, and evidence

25FMA may require person to supply information, produce documents, or give evidence

  1. If the FMA considers it necessary or desirable for the purposes of performing or exercising its functions, powers, or duties under this Act or any provision of the financial markets legislation, the FMA may, by written notice served on any person, require the person—

  2. to supply to the FMA, within the time and in the manner specified in the notice, any information or class of information specified in the notice; or
    1. to produce to the FMA, or to a person specified in the notice acting on its behalf in accordance with the notice, any document or class of documents specified in the notice (within the time and in the manner specified in the notice); or
      1. if necessary, to reproduce, or assist in reproducing, in usable form, information recorded or stored in any document or class of documents specified in the notice (within the time and in the manner specified in the notice); or
        1. to appear before the FMA, or a specified person, at a time and place specified in the notice to give evidence, either orally or in writing, and produce any document or class of documents specified in the notice.

          1. The FMA may also exercise its powers under subsection (1) for the purposes of complying with the request of an overseas regulator under section 31 or otherwise co-operating with an overseas regulator.

          2. Information supplied in response to a notice under subsection (1)(a) must be—

          3. given in writing; and
            1. signed in the manner specified in the notice.

              1. If a document is produced in response to a notice under subsection (1), the FMA, or the person to whom the document is produced, may—

              2. inspect and make records of that document; and
                1. take copies of the document or extracts from the document.

                  1. In this section and sections 26 and 27, specified person means—

                  2. a member or an employee of the FMA; or
                    1. another person to whom the board of the FMA has delegated the power to receive the relevant evidence (being a person that the FMA is satisfied is suitably qualified or trained, or is a member of a class of persons who are suitably qualified or trained, to exercise the power).

                      1. Subpart 5 contains miscellaneous provisions relating to the powers in this subpart.

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