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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Operation of licensed markets

369: Contracting out of or modification of continuous disclosure process requirements

You could also call this:

"Changing some rules for companies on the market"

Illustration for Financial Markets Conduct Act 2013

The Financial Markets Authority and a licensed market operator can agree in writing to change or ignore some rules. These rules are in sections 359, 360, and 364 to 366. You can find these rules by following the links to sections 359, 360, and 364 to 366.

The licensed market operator can agree to waive or change obligations that are owed to companies listed on their market. This means they can decide to not follow some of the rules that normally apply to them. They can do this for companies that are listed on their market.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091533.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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368: Provisions as to directions, or

"The law lets the FMA change or cancel instructions they give to people who run financial markets."

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370: Offence for failing to comply with direction, or

"Breaking the law by not following a direction from authorities can result in a big fine."

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

369Contracting out of or modification of continuous disclosure process requirements

  1. The FMA and a licensed market operator may, by agreement in writing, contract out of, or modify, any of the requirements of sections 359, 360, and 364 to 366.

  2. For that purpose, the licensed market operator may agree to waive or modify obligations under those sections that are owed to listed issuers listed on the relevant licensed market.

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