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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 Financial Information Secret"

Illustration for Financial Markets Authority Act 2011

You need to know that the Financial Markets Authority (FMA) has rules about keeping information and documents secret. This applies to information and documents the FMA gets under the Financial Markets Authority Act 2011 or other financial markets laws. It also applies to information and documents an authorised person gets under certain parts of the Act. The FMA must not share this information or these documents unless they are already public, or the information is in a statistical or summary form. The FMA can share the information if it is for a specific purpose, like helping a law enforcement or regulatory agency, or an overseas regulator. The FMA can also share the information with someone who has a proper interest in it, or with the person's consent. If the FMA shares information with someone who has a proper interest in it, they must make sure the information is kept secret, especially if it is personal information under the Privacy Act 2020. The FMA must protect this information to keep it confidential. You should be aware that there are rules about how the FMA handles this information.

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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 3General 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).