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 - Approval of contractual market rules

335: Market rules must be available for public inspection

You could also call this:

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

Illustration for Financial Markets Conduct Act 2013

If you are a licensed market operator, you must make sure people can see your market rules. You have to keep a copy of the rules at your main office where people can look at them for free when you are open. You also have to put the rules on a website that you control.

If you do not do this, you can get in trouble and have to pay a fine of up to $50,000. This is a serious offence and there are rules about what happens if you break the law, see subpart 5 of Part 8. You can look at the subpart 5 of Part 8 section to learn more about this.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091489.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
Previous

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

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

Next

336: Application of Acts relating to regulations to contractual market rules, or

"How laws about regulations apply to market rules"

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

335Market rules must be available for public inspection

  1. A licensed market operator must ensure that a copy of the market rules for each of its licensed markets—

  2. is available for public inspection, free of charge and during normal office hours, at the head office of that licensed market operator; and
    1. is published on an Internet site maintained by, or on behalf of, the licensed market operator at all reasonable times.

      1. A licensed market operator that fails to comply with subsection (1) commits an offence and is liable on conviction to a fine not exceeding $50,000.

      2. The offence in this section is an infringement offence (see subpart 5 of Part 8).

      Compare