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Financial Markets Conduct Act 2013

Licensing and other regulation of market services

387: Territorial scope for licensing and other regulation of certain market services

You could also call this:

"Rules for financial services in New Zealand, even if they come from outside the country."

Illustration for Financial Markets Conduct Act 2013

This part of the law applies to you when you receive certain services in New Zealand. You can get these services from someone who lives or works outside New Zealand. These services include getting financial advice, someone managing your investments, using an intermediary service, or a service that looks after your money or property.

When someone acts as a financial institution, you can find more information in section 446B and section 446E. These sections explain which financial services and products are available to consumers in New Zealand. They also explain what makes someone a financial institution.

For other services related to investments, you can find more information in section 47 about Part 3 of this law. This section explains which parts of New Zealand law apply to these services. You can use this information to understand how the law applies to you when you use these services.

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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=DLM4702223.

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386: Overview, or

"A guide to the rules for people who provide financial services in New Zealand"

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387A: Other provisions relating to financial advice services and client money or property services, or

"Extra rules for people giving financial advice and handling clients' money or property"

Part 6Licensing and other regulation of market services

387Territorial scope for licensing and other regulation of certain market services

  1. This Part applies to the following services received by a client or an investor in New Zealand, regardless of where the person providing the service is resident, is incorporated, or carries on business:

  2. a financial advice service:
    1. a discretionary investment management service:
      1. a prescribed intermediary service:
        1. a client money or property service.

          1. For the service of acting as a financial institution, see—

          2. section 446B (which provides for subpart 6A to apply to certain financial services and associated products that are provided to consumers in New Zealand); and
            1. section 446E (which provides for registered banks, licensed insurers, and licensed NBDTs to be financial institutions).

              1. For other licensed market services that relate to regulated offers, see section 47 as to the territorial scope of Part 3.

              Notes
              • Section 387 heading: amended, on , by section 14(1) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
              • Section 387(1): replaced, on , by section 14(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
              • Section 387(1A): inserted, on , by section 7 of the Financial Markets (Conduct of Institutions) Amendment Act 2022 (2022 No 36).