Financial Markets Conduct Act 2013

Fair dealing - Misleading or deceptive conduct, false or misleading representations, and unsubstantiated representations

19: Misleading or deceptive conduct generally

You could also call this:

"Be honest when buying or selling financial products to avoid misleading others."

When you are buying or selling financial products, you need to be honest. You must not do anything that might mislead or deceive others when dealing with financial products or services. This includes promoting financial services in a way that is misleading.

You also must not mislead others when buying or selling financial products that are listed on a market. This rule applies even if you are not buying or selling as part of a business. You can find more information about similar rules in the Fair Trading Act 1986 and other laws.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4090948.


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18: Interpretation in this Part, or

"What special words mean in this part of the law"


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20: Misleading conduct in relation to financial products, or

"Don't trick people when selling financial products - be honest so they can make good choices."

Part 2Fair dealing
Misleading or deceptive conduct, false or misleading representations, and unsubstantiated representations

19Misleading or deceptive conduct generally

  1. A person must not, in trade, engage in conduct that is misleading or deceptive or likely to mislead or deceive in relation to—

  2. any dealing in financial products; or
    1. the supply or possible supply of a financial service or the promotion by any means of the supply or use of financial services.
      1. A person must not engage in conduct that is misleading or deceptive or likely to mislead or deceive in relation to any dealing in quoted financial products.

      2. Subsection (2) applies regardless of whether or not the dealing is in trade.

      Compare
      • 1986 No 121 s 9
      • 1988 No 234 s 13