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Financial Markets Conduct Act 2013

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

334: Overseas-regulated markets must give notice of market rules and rule changes to FMA

You could also call this:

"Overseas markets must tell the Financial Markets Authority about their rules and any changes"

Illustration for Financial Markets Conduct Act 2013

If you are in charge of a market that is regulated overseas, you must tell the Financial Markets Authority (FMA) about the rules of your market. You have to do this when you apply for a licence under section 317. You must also give the FMA a copy of your market rules at the same time. If you make any changes to your market rules, you must tell the FMA as soon as possible. You have to give the FMA the changed rule, the date it was changed, and explain why you made the change. The FMA can also tell you which rules to use for your market, and these rules must be about certain matters referred to in section 328.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091488.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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333: Power of FMA to request changes to market rules on certain matters, or

"The FMA can ask market operators to change their rules to help keep markets fair and safe."

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335: Market rules must be available for public inspection, or

"Market operators must make their rules public and free to view"

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

334Overseas-regulated markets must give notice of market rules and rule changes to FMA

  1. A licensed market operator of a market licensed under section 317, or an applicant for a licence under that section, must—

  2. provide the market rules of the licensed market to the FMA at the time of the application under section 315; and
    1. as soon as practicable after any changes are made to those rules, provide the rule change to the FMA together with the date of the change and an explanation of its purpose.

      1. The FMA may, by written notice to the licensed market operator (or applicant for a licence under section 317), specify the rules for the financial product market (which must be rules dealing with some or all of the matters referred to in section 328) that are the market rules of the licensed market for the purpose of this subpart.