Financial Markets Authority Act 2011

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

26: Powers of FMA to receive evidence

You could also call this:

“The FMA can collect different types of information to help make decisions”

The Financial Markets Authority (FMA) can gather information in different ways to help them make decisions. You can think of the FMA as a group of people who make sure the financial world is fair and safe for everyone.

The FMA can ask one or more specific people to collect information for them. These people are called “specified persons.”

When the FMA is looking into something, they can accept all kinds of information. This information doesn’t have to be the same kind that a court would accept. The FMA can use any statement, document, or piece of information that they think will help them understand and solve the problem they’re working on.

The FMA can also accept information in two special cases:

  1. When the FMA or the specified person collecting the information thinks it will be helpful.
  2. When they are allowed to receive the information under another rule called section 31.

This means the FMA has a lot of freedom to gather and use different types of information to do their job and keep the financial markets running smoothly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231094.


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


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27: How evidence may be given, or

"Ways you can share information with the FMA"

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

26Powers of FMA to receive evidence

  1. The FMA may receive evidence through a specified person, or any 2 or more specified persons.

  2. The FMA may receive in evidence, whether admissible in a court of law or not, any statement, document, information, or matter that,—

  3. in the opinion of the FMA or the specified person who is receiving it, may assist the FMA in dealing effectively with any matter before it; or
    1. the FMA may receive under section 31.
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