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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Purposes, overview, and interpretation

230: Overview

You could also call this:

"A guide to the rules for buying and selling financial products in New Zealand"

Illustration for Financial Markets Conduct Act 2013

This part of the law is about dealing in financial products on markets. You will find rules about things like insider trading, market manipulation, and disclosing interests in financial products. There are links to more information about these rules, such as subpart 2 which is about insider trading, subpart 3 which is about market manipulation, and subpart 7 which is about licensing financial product markets.

Some rules apply to people who run markets, and some apply to people who buy and sell financial products. You can find out more about these rules in subpart 8 which is about operating a licensed market, and subpart 10 which is about making unsolicited offers to purchase financial products. The government can also make regulations to change or cancel some of these rules, as stated in section 351.

This overview is just a guide to help you understand the law, it does not cover everything.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091282.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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229: Additional purposes of Part, or

"What else this part of the law is trying to achieve for financial markets in New Zealand"

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231: Meaning of material information, or

"What 'material information' means: important details that could change the price of a company's financial products if made public."

Part 5Dealing in financial products on markets
Purposes, overview, and interpretation

230Overview

  1. In this Part,—

  2. this subpart contains the additional purposes of this Part and interpretation provisions:
    1. subpart 2 prohibits insider trading on licensed markets:
      1. subpart 3 prohibits market manipulation on licensed markets:
        1. subpart 4 requires listed issuers to comply with the continuous disclosure provisions of listing rules of a licensed market:
          1. subpart 5 requires substantial product holders in listed issuers to disclose their interests:
            1. subpart 6 requires directors and senior managers of a listed issuer to disclose their interests and dealings in quoted financial products of, or connected to, the listed issuer:
              1. subpart 7 provides for the licensing of financial product markets, the approval of market rules of licensed markets, the ability to impose a control limit on licensed market operators, and the ability to make regulations modifying this subpart for particular markets:
                1. subpart 8 contains requirements applying in the operation of a licensed market:
                  1. subpart 9 provides for the transfer of transferable financial products:
                    1. subpart 10 regulates the making of unsolicited offers to purchase financial products off-market.

                      1. Provisions of this Part may be disapplied or modified in relation to a licensed market (and any issuers listed on that licensed market) under regulations made under section 351.

                      2. This section is a guide only to the general scheme and effect of this Part.