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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Other powers - Power to make confidentiality orders

45: Publication or disclosure with FMA's consent

You could also call this:

“You can share secret information if the FMA says it's okay”

You can publish or share information, documents, or evidence that are under a confidentiality order if you get permission from the Financial Markets Authority (FMA). The FMA shouldn’t say no to your request without a good reason.

The FMA can say no if they think sharing the information might make it harder to enforce the law. This includes stopping, looking into, or finding out about people breaking financial market rules.

There might be other good reasons for the FMA to say no, not just the one about enforcing 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=DLM3231727.

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44: Power to make confidentiality orders, or

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Part 3 General information-gathering and enforcement powers
Other powers: Power to make confidentiality orders

45Publication or disclosure with FMA's consent

  1. An order under section 44 does not prohibit the publication or disclosure of any information, document, or evidence by a person if the publication or disclosure is with the FMA's consent.

  2. For the purposes of subsection (1), the FMA's consent must not be unreasonably withheld.

  3. It is reasonable for the FMA to withhold its consent if it considers that the publication or disclosure of any information, document, or evidence would be likely to prejudice the maintenance of the law, including the prevention, investigation, and detection of contraventions of the financial markets legislation.

  4. Subsection (3) does not limit the circumstances in which it may be reasonable for the FMA to withhold its consent.