Regulation of prediction markets under the financial markets conduct act 2013

摘要: The Financial Markets Conduct Act 2013 (FMC Act) represents the most substantial overhaul of New Zealand's securities law in recent history. regulation derivatives particular featured high on agenda as an area need reform and, a result, FMC is much more clear than Securities 1978 and 1988 with respect to typical derivative agreements. focus this article, however, atypical: use prediction markets. This article examines whether Zealand-based market iPredict will be regulated under if so, how it regulated. conclusion reached that can operate only Authority declares its contracts are grants exemptions from regulatory compliance. then makes recommendations for coherent approach markets by analogy new prescribed intermediary service licences Act.