Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Dealing in financial products on markets - Operation of licensed markets

363: Grounds for other directions

You could also call this:

"When the FMA needs to protect people buying or selling financial products, they can give special instructions."

Illustration for Financial Markets Conduct Act 2013

The Financial Markets Authority (FMA) can give a direction under section 361 if they think it is necessary to protect people trading certain financial products. You are protected if the FMA thinks the direction will help people who are trading these products. The FMA can only give this direction if it is not about something called continuous disclosure, which you can learn more about in section 361 and sections 364 to 366.

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 It might be out of date or be missing some parts.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=DLM4091527.

Topics:
Money and consumer rights > Banking and loansMoney and consumer rights > Consumer protectionBusiness > Industry rulesBusiness > Fair trading
Previous

362: Grounds for continuous disclosure direction, or

"When to get in trouble for not sharing important information with investors"

Next

364: Notice, opportunity for licensed market operator to act, and submissions before FMA gives directions, or

"Before giving orders, the Financial Markets Authority must warn the market operator and listen to what they have to say."

Part 5Dealing in financial products on markets
Operation of licensed markets

363Grounds for other directions

  1. A direction may also be given under section 361 in accordance with sections 364 to 366 if the FMA is satisfied that—

  2. the direction is necessary or desirable to protect people who are trading the quoted financial products, or the class of quoted financial products, of 1 or more listed issuers; but
    1. it is not a matter relating to continuous disclosure.

      Compare