Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products

308: Principles guiding exercise of powers under this subpart

You could also call this:

"Rules to help leaders make good decisions about financial markets"

Illustration for Financial Markets Conduct Act 2013

When the Minister and the FMA make decisions about financial markets, they must think about certain things. They must consider the purposes of this part of the law, which are explained in sections 3 and 4. You can find these explanations by following the links to sections 3 and 4.

They also need to think about what is happening on the market, like what kind of activities are taking place and how big the market is. They must consider what kind of financial products are being bought and sold, and who is involved in the market. They even need to think about the technology being used to run the market.

When someone applies for a licence to run a market, the Minister and the FMA must think about the things that are listed in section 317. You can find out more about this by following the link to section 317.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091454.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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"Breaking rules about sharing information on company ownership can lead to a big fine."

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309: What is a financial product market, or

"A financial product market is a place where people buy and sell financial products with each other."

Part 5Dealing in financial products on markets
Licensing of markets for trading financial products

308Principles guiding exercise of powers under this subpart

  1. The Minister and the FMA must (without limitation) have regard to the following matters in the exercise of powers under this subpart:

  2. the purposes of this Part (in addition to the main and additional purposes of this Act set out in sections 3 and 4):
    1. the following matters (if relevant):
      1. the nature of the activities conducted, or proposed to be conducted, on the market; and
        1. the size, or proposed size, of the market; and
          1. the nature of the financial products dealt with, or proposed to be dealt with, on the market; and
            1. the persons who participate in, or are likely to participate in, the market (either directly or by using the services of participants); and
              1. the technology used, or proposed to be used, in the operation of the market:
              2. in relation to an application for a licence issued under section 317, or another power under this subpart relating to a market licensed under that section, the matters set out in that section.