March 12, 2021 - New Zealand

FMCA Roadmap

MinterEllisonRuddWatts has released the 14th edition of its popular Roadmap guide to the Financial Markets Conduct Act 2013 (FMCA) and the Financial Markets Conduct Regulations 2014.

The 90+ page guide breaks the law down in sections, with the help of diagrams and tables. It is an excellent resource for directors and C-suite of financial service providers, capital markets participants, and internal legal counsel on this radical overhaul of New Zealand securities law.


The Financial Markets Conduct Act 2013 (FMCA) represents a once-in-a-generation re-writing of our securities law.

It was the result of a comprehensive review of financial markets legislation, taking into account the work of the Capital Markets Development Taskforce, the effects of the global financial crisis, and the failure of finance companies.

The FMCA completely overhauled existing securities and financial markets law with a consolidated financial markets conduct regime in an effort to improve financial markets conduct and restore investor confidence.

Passage of the legislation and regulations

The Financial Markets Conduct Bill was introduced into Parliament on 12 October 2011. After being split into two, the new legislation passed its third reading on 27 August 2013 and received royal assent on 13 September 2013 to become the FMCA and the Financial Markets (Repeals and Amendments) Act 2013 (FMRAA).

A series of discussion documents, Cabinet papers and exposure drafts in relation to the comprehensive regulations required under the FMCA were released after December 2012, culminating in the Financial Markets Conduct Regulations 2014 (FMC Regulations), issued on 3 November 2014.

The FMCA and FMC Regulations were introduced in stages coming into full effect at the end of a two year transition period on 1 December 2016. 

This guide

This guide is designed to give you an easy reference “roadmap” to help you to understand the structure and content of the FMCA, FMC Regulations, and thenew financial advice and client money and client property services regimes.




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