Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Governance of financial products

102: Overview

You could also call this:

"A guide to the rules for financial products in New Zealand, including debt securities and investments."

Illustration for Financial Markets Conduct Act 2013

This Part of the law is about how financial products are governed. You will find rules about debt securities in subpart 1, which includes things like having a trust deed and a supervisor. There are also rules about managed investment products in subpart 2, which includes having a governing document and a supervisor. You can also find rules about people who work with these products having to make certain disclosures and the powers of the supervisor or the FMA to supervise these products in subpart 3 and additional powers in Part 8. There are rules about keeping documents and registers for all financial products in subpart 4.

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 It might be out of date or be missing some parts.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=DLM4702199.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
Previous

101: Part 3 offer provisions, or

"Rules for selling financial products and what happens if you break them"

Next

103: Need for governing document and supervisor for regulated offer of debt security, or

"You need a special document and a supervisor to legally sell debt securities in New Zealand."

Part 4Governance of financial products

102Overview

  1. This Part provides for the governance of regulated products as follows:

  2. subpart 1 sets out the need for a trust deed and a supervisor, and other issuer and supervisor obligations, for regulated offers of debt securities:
    1. subpart 2 sets out the need for a managed investment scheme to be registered for regulated offers of managed investment products, and the need for a governing document and a supervisor, and other issuer, supervisor, and custodian obligations, for registered schemes:
      1. subpart 3—
        1. requires persons associated with those debt securities or registered schemes to make protected disclosures; and
          1. provides powers of intervention to enable the supervision of those debt securities or registered schemes by the supervisor or the FMA (in addition to the powers in Part 8):
          2. subpart 4 contains ongoing duties of issuers of all regulated products to maintain registers and keep copies of documents.

            1. Subsection (1) is only a guide to the general scheme and effect of this Part.