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New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products - Approval of contractual market rules

327: Licensed markets must be operated under market rules that comply with this subpart

You could also call this:

"Licensed markets must follow their own rules to work fairly and safely."

Illustration for Financial Markets Conduct Act 2013

If you operate a licensed market, you must follow the market rules for that market. The market rules must include the required matters set out in section 328 and have effect under section 329. You must operate the market in accordance with these rules.

If a licensed market is licensed under section 317, which is for overseas-regulated markets, then this section and sections 328 to 332 do not apply to that market. This means you do not have to follow these rules for overseas-regulated markets. You should look at section 317 to understand what rules apply to overseas-regulated markets.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091481.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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"The Minister can change or cancel a stopped licence at any time."

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328: Required matters for market rules, or

"Rules to Keep Trading Fair and Safe"

Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Approval of contractual market rules

327Licensed markets must be operated under market rules that comply with this subpart

  1. A licensed market operator must not operate a licensed market except in accordance with market rules for that market that—

  2. include the required matters set out in section 328; and
    1. have effect under section 329.

      1. This section and sections 328 to 332 do not apply to a licensed market that is licensed under section 317 (overseas-regulated markets).

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