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Financial Markets Conduct Act 2013

Enforcement, liability, and appeals - FMA's enforcement powers - General provisions

479: Consequences of failing to comply with FMA's orders

You could also call this:

"What happens if you don't follow the Financial Markets Authority's orders"

Illustration for Financial Markets Conduct Act 2013

If the Financial Markets Authority (FMA) makes an order under this Act that applies to you, you must follow it. You can check subpart 3 to see what happens if you do not comply with this order. If you refuse or fail to follow an FMA order without a good reason, you are committing an offence. You could be fined up to $300,000 if you are found guilty of this offence.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091692.

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478: General provisions on FMA's orders, or

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Part 8Enforcement, liability, and appeals
FMA's enforcement powers: General provisions

479Consequences of failing to comply with FMA's orders

  1. If an order made by the FMA under this Act applies to a person, the person must comply with the order (see subpart 3, which provides for civil liability for a contravention of this duty).

  2. A person who refuses or fails, without reasonable excuse, to comply with an order made by the FMA under this Act commits an offence and is liable on conviction to a fine not exceeding $300,000.

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