Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products - Other provisions relating to licensing of financial product markets

349: FMA may give advice to Minister

You could also call this:

"The FMA helps the Minister make decisions about money and investments by giving them advice."

Illustration for Financial Markets Conduct Act 2013

The FMA can give advice to the Minister about things the Minister has to decide on. You might be wondering what kind of things the Minister has to decide on - it's about financial product markets. The FMA can also give advice on other matters related to financial product markets.

If the Minister gives the FMA a job to do, the FMA does not have to give the Minister advice on that particular job. The Minister also does not have to think about what the FMA says when the FMA is doing that job.

The FMA and the Minister work together to make decisions about financial product markets, and they follow rules to make sure everything runs smoothly.

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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=DLM4091511.

Topics:

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

348: Revocation or amendment of approval, or

"The Governor-General can change or cancel an approval if it's best for everyone."

350: Delegation of Minister's licensing functions and powers to FMA, or

"The Minister can pass some of their jobs and powers to the FMA to help look after financial markets."

Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Other provisions relating to licensing of financial product markets

349FMA may give advice to Minister

The FMA may give advice to the Minister in relation to any matter in respect of which the Minister has a discretion under this subpart or any other matter concerning financial product markets.
If the Minister has delegated a function or power to the FMA under this subpart, any obligation under this subpart for the FMA to give advice to the Minister, or for the Minister to have regard to the advice of the FMA, in connection with that matter does not apply.