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Financial Markets Conduct Act 2013

Licensing and other regulation of market services - Regulating conduct of financial institutions

446A: Overview

You could also call this:

"A guide to how financial institutions must treat you fairly and follow the law"

Illustration for Financial Markets Conduct Act 2013

This part of the law helps make sure financial institutions treat you fairly. They must create and follow a fair conduct programme to do this. You can find more information about the law that was used to make this change at the Financial Markets (Conduct of Institutions) Amendment Act 2022. Financial institutions must also comply with their own programme and with regulations about incentives. The law explains what financial institutions must do to treat you fairly. This explanation is just a guide to help you understand the law. It does not include all the details, but it gives you an idea of what the law is about.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1428450.

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Money and consumer rights > Banking and loansMoney and consumer rights > Consumer protectionBusiness > Industry rulesBusiness > Fair trading
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Part 6Licensing and other regulation of market services
Regulating conduct of financial institutions

446AOverview

  1. This subpart provides for financial institutions to treat consumers fairly by—

  2. requiring financial institutions to establish, implement, and maintain an effective fair conduct programme; and
    1. requiring financial institutions to comply with the programme; and
      1. requiring financial institutions and intermediaries to comply with regulations that regulate incentives.

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

        Notes
        • Section 446A: inserted, on , by section 12 of the Financial Markets (Conduct of Institutions) Amendment Act 2022 (2022 No 36).