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Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Role of manager

148: Duty of manager to provide requested information and reports to supervisor

You could also call this:

"Managers must give supervisors the information they ask for to help them do their job."

Illustration for Financial Markets Conduct Act 2013

If you are a manager of a registered scheme, you have to give information to the supervisor when they ask for it. The supervisor is like a boss who makes sure everything is running smoothly. You have to make all documents and records about the scheme available to the supervisor, including things that other people like investment managers might have.

You also have to give the supervisor any other reports or information they need. This can be about anything that helps the supervisor do their job, and it can even be about what you think might happen in the future.

You have to give the supervisor the information they ask for within a reasonable time and in the way they want it, as long as that is fair and sensible, you can see more about this in the related legislation and also in the other related 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=DLM4091141.

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147: Duty of manager to provide reports to supervisor or FMA, or

"Managers of schemes must give regular reports to supervisors or the FMA."

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149: Duty of manager to report contravention or possible contravention of issuer obligations, or

"Managers must report if they break or might break rules to the supervisor or Financial Markets Authority."

Part 4Governance of financial products
Governance of managed investment products: Role of manager

148Duty of manager to provide requested information and reports to supervisor

  1. If requested by the supervisor of a registered scheme (or a person authorised by the supervisor to exercise its powers under this section), the manager must—

  2. make available to the supervisor (or other authorised person) all documents and records relating to the manager and the scheme (including those held by an investment manager or administration manager); and
    1. provide the supervisor (or other authorised person) with any other reports or information required by the supervisor (or other authorised person).

      1. Reports or information required under subsection (1) may—

      2. be about any matter relevant to the performance of the supervisor's functions; and
        1. include forward-looking reports.

          1. The reports or information must be provided within the time and in the manner (which must be reasonable in the circumstances) specified by the supervisor.

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