If you are an intermediary, you must follow the rules about incentives. You offer incentives to your employees or agents, or to other intermediaries, when you provide services or products from a financial institution. You must comply with the regulations made under section 546(1)(og), which are about incentives.

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 It might be out of date or be missing some parts.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 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1428472.

Topics:

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

446K: Financial institution must comply with incentives regulations, or

"Banks and money businesses must follow the rules about incentives"

446M: Meaning of incentive, or

"What is an incentive: a reward for doing something, like getting money for selling a product."

Part 6Licensing and other regulation of market services
Regulating conduct of financial institutions: Duties relating to incentives regulations

446LIntermediary must comply with incentives regulations

Every intermediary that offers or gives an incentive to any of its employees or agents or to another intermediary in connection with the provision of a financial institution’s relevant services or associated products must also comply with the regulations made under section 546(1)(og) (which relate to incentives).

Notes

Section 446L: inserted, on 31 March 2025, by section 12 of the Financial Markets (Conduct of Institutions) Amendment Act 2022 (2022 No 36).