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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Miscellaneous provisions relating to powers - Confidentiality

59: Confidentiality of information and documents

You could also call this:

“Keeping secrets safe: How the FMA protects important information”

The Financial Markets Authority (FMA) gets special information and documents. This includes things they receive, find out, or create under financial laws. It also covers information that other people they allow to help them get.

You need to know that the FMA must keep this information private. They can’t share it with others unless there’s a good reason. Here are the times when they can share:

If the information is already public or available in another law.

If they only share numbers or summaries that don’t identify anyone.

If they need to share it to do their job or follow the law.

If they need to tell the police or other groups that enforce laws.

If they need to work with people from other countries who do similar jobs.

If they think someone has a good reason to know the information.

If the person the information is about says it’s okay to share.

When the FMA shares information with someone they think has a good reason to know, they must make sure the information will stay private. This is especially important for personal information about people.

Remember, these rules don’t apply to some information that’s covered by a different law about investigating companies.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3565224.

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

59Confidentiality of information and documents

  1. This section applies to the following information and documents:

  2. information and documents supplied or disclosed to, or obtained by, the FMA under this Act or any financial markets legislation:
    1. information and documents supplied or disclosed to, or obtained by, a person authorised under section 52 (an authorised person) under subpart 1:
      1. information derived from information and documents referred to in paragraph (a) or (b).

        1. However, this section does not apply to information and documents to which section 23 of the Corporations (Investigation and Management) Act 1989 applies.

        2. The FMA must not publish or disclose, or direct an authorised person to publish or disclose, any information or document to which this section applies unless—

        3. the information or document is available to the public under any enactment or is otherwise publicly available; or
          1. the information is in a statistical or summary form; or
            1. the publication or disclosure of the information or document is for the purposes of, or in connection with, the performance or exercise of any function, power, or duty conferred or imposed on the FMA by this Act or any other enactment; or
              1. the publication or disclosure of the information or document is to a law enforcement or regulatory agency under subpart 2; or
                1. the publication or disclosure of the information or document is to an overseas regulator under subpart 2 or otherwise for the purpose of assisting the FMA to co-operate with an overseas regulator; or
                  1. the publication or disclosure of the information or document is to a person who the FMA is satisfied has a proper interest in receiving the information or document; or
                    1. the publication or disclosure of the information or document is with the consent of the person to whom the information or document relates or of the person to whom the information or document is confidential.

                      1. The FMA must not publish or disclose, or direct an authorised person to publish or disclose, any information or document under subsection (3)(f) unless the FMA is satisfied that appropriate protections are or will be in place for the purpose of maintaining the confidentiality of the information or document (in particular, information that is personal information within the meaning of the Privacy Act 2020).

                      Notes
                      • Section 59(4): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).