Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products - Monitoring of market operator obligations

343: Minister may vary, suspend, or cancel licence

You could also call this:

"The Minister can change, stop, or cancel a licence if rules are not followed."

Illustration for Financial Markets Conduct Act 2013

The Minister can change the conditions of a licence if they could give a direction under section 342. You get a written notice if the Minister changes your licence conditions, and they follow the procedure in section 324. The Minister does this by sending you a written notice.

If the Minister could give a direction under section 342 and they think you do not meet the requirements in section 316 or 317, they can suspend or cancel your licence. The Minister sends you a written notice if they suspend or cancel your licence, and they follow the procedure in section 324. You are told in writing about the change to your licence.

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This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091499.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading

342: Minister may give market operator obligations direction to licensed market operator, or

"The Minister can tell a market operator what to do if it's not following the rules."

344: Power to impose control limits on licensed market operators, or

"Rules to stop one person controlling too much of a financial company"

Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Monitoring of market operator obligations

343Minister may vary, suspend, or cancel licence

If the Minister could give a direction under section 342, the Minister may also, by written notice to the licensed market operator, vary the conditions of the licence (following the procedure set out in section 324).
If the Minister could give a direction under section 342 and the Minister is satisfied that the licensed market operator does not meet the requirements referred to in section 316 or 317, the Minister may also, by written notice to the licensed market operator, suspend or cancel the licence (following the procedure set out in section 324).