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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Miscellaneous provisions relating to powers - FMA may authorise person to obtain information or documents

54: Non-disclosure of information or documents from exercise of powers under section 25 except in certain circumstances

You could also call this:

“When and how you can share special information from section 25”

When someone is allowed to get information or documents under section 25, they must keep it private. They can only share this information in three special cases:

  1. They can give it to the FMA (Financial Markets Authority).
  2. They can share it if the FMA tells them to, following the rules in section 59(3).
  3. They can share it if they have to because of the Official Information Act 1982 or the Privacy Act 2020.

If a person who is allowed to get this information shares it when they’re not supposed to, they’re breaking the law. If they do this on purpose, they might have to pay a fine of up to $200,000.

Remember, it’s very important to keep this information private unless you have a good reason to share it.

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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=DLM3565222.

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Part 3 General information-gathering and enforcement powers
Miscellaneous provisions relating to powers: FMA may authorise person to obtain information or documents

54Non-disclosure of information or documents from exercise of powers under section 25 except in certain circumstances

  1. A person authorised under section 52 must not publish or disclose to any other person any information or documents acquired in the course of exercising powers under section 25 except—

  2. to the FMA; or
    1. as directed by the FMA in accordance with section 59(3); or
      1. in accordance with the Official Information Act 1982 or the Privacy Act 2020.

        1. A person authorised under section 52 who wilfully contravenes subsection (1) commits an offence and is liable on conviction to a fine not exceeding $200,000.

        Notes
        • Section 54(1)(c): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).
        • Section 54(2): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).