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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Insider trading - When prohibition on insider conduct does not apply

246: Exception for disclosure required by enactment or rule of law or by FMA

You could also call this:

"You can share secret information if a law or the FMA says you must."

Illustration for Financial Markets Conduct Act 2013

You do not break the law if you share inside information when you are required to do so by a law or a rule. This also applies when the Financial Markets Authority, or FMA, tells you to share the information while they are using a power given to them by this Act or another law. The rule that normally stops you from sharing inside information, which is explained in Section 242, does not apply in these situations.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091329.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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245: Exception for trading required by enactment or rule of law, or

"Trading is okay if a law or rule says you have to do it"

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247: Exception for disclosure in connection with preparing PDS or limited disclosure document, or

"It's okay to share secret information when making documents to sell financial products"

Part 5Dealing in financial products on markets
Insider trading: When prohibition on insider conduct does not apply

246Exception for disclosure required by enactment or rule of law or by FMA

  1. Section 242 does not apply to disclosure that is required by—

  2. an enactment or any rule of law; or
    1. the FMA when exercising a power under this Act or any other enactment.

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