A discretionary investment management service is a type of service you might hear about when learning about investments. You can find more information about this in the Financial Markets Conduct Act 2013, but the part that explains what a discretionary investment management service is, has been repealed. This means it was removed from the law on 15 March 2021 by section 18 of the Financial Services Legislation Amendment Act 2019.

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This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702225.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading

391: Prohibitions on holding out, or

"Be honest about your market services licence"

393: Principles guiding the exercise of FMA powers, or

"Rules to help the Financial Markets Authority make fair decisions"

Part 6Licensing and other regulation of market services
Key provisions

392Meaning of discretionary investment management service and related terms (Repealed)

Notes

Section 392: repealed, on 15 March 2021, by section 18 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).