Development of Financial Market Conduct Act regulations
This page outlines the development of the Financial Markets Conduct Regulations 2014 and various amendment regulations made since 2014.
On this page
The Financial Markets Conduct Regulations 2014 provides the supporting detail to the Financial Markets Conduct (FMC) Act. Since 2014, supplementary amendment regulations have also been made.
See the links to the regulations below.
Contact us to discuss technical issues
Given the size and complexity of the FMC regulations and the many different ways in which they affect different businesses, we anticipate that further technical issues may arise.
We will continue to closely monitor implementation of the regulations.
Contact us at investment@mbie.govt.nz if you would like to discuss particular issues.
Financial Markets Conduct Regulations
The Financial Markets Conduct Regulations 2014 and other amendment regulations are available on the government legislation website:
Financial Market Conduct Regulations 2014(external link)
Financial Markets Conduct Amendment Regulations 2015(external link)
Financial Markets Conduct Amendment Regulations 2016(external link)
Financial Markets Conduct Amendment Regulations (No 2) 2016(external link)
Financial Markets Conduct Amendment Regulations 2017(external link)
Financial Market Conduct Amendment Regulations 2018(external link)
Cabinet decisions
The 2014 FMC regulations covered the core requirements needed for the FMC Act to come into force by 1 December 2014.
Various amendment regulations have been made since 2014 to provide further improvements and enhancements to the financial markets conduct regime and to address some of the remedial issues identified.
Financial Markets Conduct Regulations Paper 1: Overview [PDF, 44 KB]
Financial Markets Conduct Regulations Paper 2: Disclosure and General Matters [PDF, 107 KB]
Financial Market Conduct Regulations Paper 3: Governance [PDF, 103 KB]
Financial Markets Conduct Regulations Paper 4: Licensing regimes [PDF, 137 KB]
Regulatory Impact Statement: Financial Markets Conduct Regulations [PDF, 487 KB]
Further detail on Financial Markets Conduct Regulations [PDF, 8.9 MB]
Regulatory Impact Statement: Further detail on Financial Markets Conduct Regulations [PDF, 731 KB]
Discussion paper
A discussion paper seeking submissions on the FMC regulations was released in December 2012.
Financial Markets Conduct Regulations – Discussion Paper (full pdf) [PDF, 1.9 MB]
Licensing fees
In March 2014, Cabinet agreed to introduce FMA licensing fees for market services providers under the FMC regime and an increase to some existing FMA fees. The following Cabinet paper details the structure and level of fees:
Cabinet paper: FMA licensing fees [PDF, 2.2 MB]
Regulatory Impact Statement: FMA licensing fees [PDF, 2.8 MB]
Fees for FMC registers and other FMA fees and levies were also set:
Regulatory Impact Statement on the FMC Act register fees and other FMA fees and levies [PDF, 770 KB]