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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Miscellaneous provisions relating to powers - Other miscellaneous provisions

65: Limitation on disclosure of information obtained in FMA's operations

You could also call this:

“FMA people can't share work secrets in court, with some exceptions”

You can’t make people from the Financial Markets Authority (FMA) talk about what they know from their work in court or other legal proceedings. This includes FMA members, employees, delegates, experts, and anyone else who attends FMA meetings. They also don’t have to show or give any documents related to FMA work.

But there are some times when this rule doesn’t apply. These are:

  1. If someone lies in court, they can still be questioned about it.
  2. If the FMA is part of the court case.
  3. If the case is about certain crimes. These crimes include lying to the FMA, destroying documents, or trying to stop the FMA from doing its job.

This rule doesn’t change how the Official Information Act 1982 works. That law still applies as usual.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231758.

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Part 3 General information-gathering and enforcement powers
Miscellaneous provisions relating to powers: Other miscellaneous provisions

65Limitation on disclosure of information obtained in FMA's operations

  1. No court or other person may require a member or an employee of the FMA, any delegate of the FMA, any expert appointed by the FMA, any person authorised under section 52, or any other person present at a meeting of the FMA to—

  2. give evidence in court or in any proceedings of a judicial nature of anything coming to his or her knowledge in connection with the operations of the FMA; or
    1. make discovery of a document or produce a document for inspection in court or in any proceedings of a judicial nature if the document was provided or obtained in connection with the operations of the FMA.

      1. Subsection (1) does not apply to—

      2. proceedings in respect of the falsity of any testimony; or
        1. proceedings to which the FMA is a party (including where the FMA is acting under subpart 3); or
          1. proceedings in respect of—
            1. an offence under section 51 or 61; or
              1. an offence against section 78, 78A(1), 105, 105A, or 105B of the Crimes Act 1961; or
                1. the offence of conspiring to commit an offence against any of those sections of the Crimes Act 1961; or
                  1. the offence of attempting to commit an offence against any of those sections of the Crimes Act 1961.

                  2. This section does not limit the application of the Official Information Act 1982.

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