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Financial Markets Conduct Act 2013

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

29: Limited application of provisions in relation to newspapers, magazines, broadcasting, etc

You could also call this:

"Some finance rules don't apply to newspapers, magazines, TV, or the internet unless they're trying to sell you something."

Some rules in the Financial Markets Conduct Act 2013 do not apply to newspapers, magazines, or things you see or hear on the internet or TV. You need to know what these rules are so you can understand when they apply. When you read or watch something in a newspaper, magazine, or on a website, it is not covered by these rules unless it is an advertisement.

If someone is talking about financial products or services on the internet, TV, or radio, the rules do not apply unless they are trying to sell you something. You should look at who is saying it and why they are saying it to understand if the rules apply. The rules also do not apply to movies or audio and video services unless they are trying to sell you something.

Some words have special meanings in this section, like "exhibiting" which means showing something to the public. A "newspaper" has the same meaning as in the Films, Videos, and Publications Classification Act 1993. The "relevant person" is the person in charge of the newspaper, magazine, website, or TV or radio show.

The rules in sections 19 to 23 do not apply to the person in charge of the content unless they are trying to sell you something. You can find more information about what is meant by "exhibiting" and "newspaper" in other laws. The person in charge of the content is the one who decides what you see or hear.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4090954.

Topics:
Money and consumer rights > Banking and loansMoney and consumer rights > Consumer protectionBusiness > Industry rulesBusiness > Fair trading
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28: Certain conduct does not contravene various provisions, or

"Some rule-breaking actions don't break other rules in the Financial Markets Conduct Act."

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30: Defence for publisher, or

"Protection for people who accidentally publish illegal ads as part of their job"

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

29Limited application of provisions in relation to newspapers, magazines, broadcasting, etc

  1. Nothing in sections 19 to 23 applies to the publication of any information or matter in a newspaper or magazine, or on a news media or financial market commentary Internet site, by the relevant person, not being—

  2. the publication of an advertisement; or
    1. the publication of any information or matter relating to any dealing in financial products, the supply or possible supply of financial services, or the promotion by any means of the supply or use of financial services by—
      1. the relevant person or, if the relevant person is a body corporate, by a related body corporate; or
        1. a person who is a party to any agreement with the relevant person relating to the content, nature, or tenor of the information or matter.

        2. Nothing in sections 19 to 23 applies to the broadcasting or exhibiting of any information or matter by the relevant person, not being—

        3. the broadcasting or exhibiting of an advertisement; or
          1. the broadcasting or exhibiting of any information or matter relating to any dealing in financial products, the supply or possible supply of financial services, or the promotion by any means of the supply or use of financial services by—
            1. the relevant person or, if the relevant person is a body corporate, by a related body corporate; or
              1. a person who is a party to any agreement with the relevant person relating to the content, nature, or tenor of the information or matter.

              2. In this section,—

                exhibiting means—

                1. exhibiting by means of an audio or visual service; or
                  1. exhibiting films to the public

                    newspaper has the same meaning as in section 2 of the Films, Videos, and Publications Classification Act 1993

                      relevant person means, in relation to—

                      1. a newspaper or magazine, the proprietor of the newspaper or magazine:
                        1. a news media or financial market commentary Internet site, the person that controls the content of the Internet site:
                          1. broadcasting, the broadcaster:
                            1. an audio or visual service, the person that controls the content of the audio or visual service:
                              1. exhibiting films to the public, the person that exhibits the films.

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