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Financial Markets Conduct Act 2013

Regulations, transitional provisions, and miscellaneous provisions - Frameworks or methodologies

568: FMA may specify frameworks or methodologies

You could also call this:

"The FMA can make special rules to help work out and share financial information."

Illustration for Financial Markets Conduct Act 2013

The FMA can create rules that explain how to work out or present certain information. You can find these rules in notices that the FMA issues. These notices can relate to information that must be made available under subpart 4 of Part 3, or to documents for debt securities and registered schemes.

The FMA can also create rules for things like determining how important a mistake is, or for deciding who can get a market services licence. These rules might say how to calculate income, assets, or liabilities, and what to include or leave out when doing these calculations.

When the FMA creates these rules, they can make different rules for different types of financial products or services. However, the rules must not contradict the Financial Markets Conduct Act or any regulations. If the FMA issues a notice with these rules, subpart 5 applies to that notice.

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Part 9Regulations, transitional provisions, and miscellaneous provisions
Frameworks or methodologies

568FMA may specify frameworks or methodologies

  1. The FMA may issue a notice that specifies frameworks or methodologies relating to how matters are required or permitted to be determined, calculated, valued, presented, or prepared for the purposes of—

  2. information that is to be made available under subpart 4 of Part 3:
    1. the governing documents for debt securities and registered schemes, statements of investment policy and objectives, and determining the materiality of limit breaks or pricing errors under Part 4:
      1. the eligibility criteria for the issue of market services licences:
        1. the conditions that may be imposed on market services licences:
          1. any other matter that, by this Act or any other enactment, is required or permitted to be done in accordance with those frameworks or methodologies or the notices issued under this subpart.

            1. The frameworks or methodologies may (without limitation)—

            2. include requirements relating to how income, values, assets, revenue, liabilities, financial products, transactions, amounts payable, or other matters are to be determined, calculated, valued, presented, or prepared:
              1. provide for income, values, assets, revenue, liabilities, financial products, transactions, amounts payable, or other matters to be included or disregarded (in whole or in part) for the purposes of paragraph (a).

                1. A notice issued by the FMA—

                2. may specify different matters and requirements in respect of different kinds or classes of financial products, services, persons, or other circumstances:
                  1. must not specify matters and requirements that are inconsistent with this Act or any regulations.

                    1. Subpart 5 (general provisions relating to certain FMA instruments) applies to a notice issued under this section.

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