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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Sharing information and documents - Power to share information and documents with other law enforcement or regulatory agencies and overseas regulators

30: Sharing of information and documents with law enforcement or regulatory agencies and overseas regulators

You could also call this:

“FMA can share information with other agencies to help everyone do their job better”

The Financial Markets Authority (FMA) can share information and documents with other agencies that enforce laws or regulate things, both in New Zealand and overseas. This helps these agencies do their jobs better.

When the FMA wants to share information with an overseas agency, they need to make sure the information will be kept private and safe. This is especially important for personal information.

The FMA can also use information and documents that other agencies give to them. This helps the FMA do its job better.

These rules about sharing information apply even if there’s a contract or agreement that says something different.

If you want to know more about privacy rules, you can look at the Privacy Act 2020.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231705.

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"FMA can allow searches of places and things to find proof of broken financial rules"

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"FMA can help overseas regulators by gathering and sharing information"

Part 3 General information-gathering and enforcement powers
Sharing information and documents: Power to share information and documents with other law enforcement or regulatory agencies and overseas regulators

30Sharing of information and documents with law enforcement or regulatory agencies and overseas regulators

  1. The FMA may provide to a law enforcement or regulatory agency or an overseas regulator any information, or a copy of any document, that the FMA—

  2. holds in relation to the performance or exercise of the FMA's functions, powers, or duties under this Act or any other enactment; and
    1. considers may assist, as the case may be,—
      1. the law enforcement or regulatory agency in the performance or exercise of the law enforcement or regulatory agency's functions, powers, or duties under any enactment; or
        1. the overseas regulator in the performance or exercise of the overseas regulator's functions, powers, or duties under foreign law.

        2. However, the FMA may provide information, or a copy of a document, to an overseas regulator under this section only if the FMA is satisfied that appropriate protections are or will be in place for the purpose of maintaining the confidentiality of anything provided (in particular, information that is personal information within the meaning of the Privacy Act 2020).

        3. The FMA may use any information, or a copy of any document, provided to it by a law enforcement or regulatory agency under any enactment, or by an overseas regulator, in the FMA's performance or exercise of its functions, powers, or duties under this Act or any other enactment.

        4. This section applies despite anything to the contrary in any contract, deed, or document.

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        Notes
        • Section 30(2): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).