The New Zealand Financial Markets Authority has published final sustainability-related disclosure guidance for issuers of financial products with sustainability-related characteristics, setting out how existing fair dealing and disclosure obligations under the Financial Markets Conduct Act 2013 apply when those characteristics are promoted. The guidance is intended to help issuers give investors clear, accessible and non-misleading information about products described using environmental, social, values-based or similar claims, and it replaces the earlier 2020 and 2022 guidance on integrated financial products. The guidance is structured around four core principles. Claims need to be clear, claims need to be substantiated, messages need to be consistent, and third-party involvement needs to be effectively managed. It applies across statutory disclosure documents and other external communications including websites, apps, reports and marketing material. The document makes clear that it does not prescribe how issuers should invest or create new legal obligations, but explains the Financial Markets Authority’s interpretation of existing requirements. It is particularly focused on products targeted at retail investors, although issuers targeting wholesale investors are also expected to consider how the principles apply. The final version also reflects consultation feedback, including a change in terminology from the draft, removal of the financial advice and climate-related disclosure sections, added material on positive screening and te reo Māori and Māori values, and more precise treatment of statutory duties. Alongside the guidance, the New Zealand Financial Markets Authority has published a summary of consultation themes and a submissions report. It received 20 written submissions during the consultation process.
New Zealand Financial Markets Authority 2026-05-12
New Zealand Financial Markets Authority updates sustainability-related disclosure guidance for issuers and sets four fair dealing principles
The New Zealand Financial Markets Authority has issued final guidance for issuers of financial products with sustainability-related characteristics, clarifying how fair dealing and disclosure obligations under the Financial Markets Conduct Act 2013 apply when such characteristics are promoted. Replacing 2020 and 2022 integrated financial product guidance, it sets principles that claims must be clear, substantiated, consistent and supported by effective management of third-party involvement, and applies to statutory disclosure documents and wider communications, with a focus on retail products.