FMA Updates

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  1. 19 May 2016

    FMA Update - 19 May 2016

    Helping businesses adapt to a new regulatory environment I joined the FMA as General Counsel in February and I’m excited to be at the forefront of the continuing evolution of New Zealand’s financial regulatory regime. As General Counsel, I have responsibility for our policy and governance, litigation and enforcement, corporate legal and internal audit teams. These teams contribute to fulfilling the FMA’s objectives and engage with industry in a variety of ways. In readiness for the FMC Act...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-19-may-2016/

  2. 17 March 2016

    FMA Update - 17 March 2016

    Creating confidence in investors – it’s a partnership Confident, capable New Zealand investors are critical to the FMA’s purpose of promoting and facilitating the development of fair, efficient and transparent financial markets. Why? Because unconfident investors lack the ability and the will to actually invest – whatever the quality of markets.  For us, being a capable investor is about knowing what you want to achieve.  It’s also about knowing you have to do your homework before de...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-17-march-2016/

  3. 9 December 2015

    FMA Update - 9 December 2015

    Seasons greetings It is with some surprise that I find myself writing for the FMA’s December Update. Either time is passing more quickly or I am getting old . . . or maybe we are all just busy? As we canter towards the summer break, we have several new people holding the reins at the FMA. The new structure and executive team kicked in on December 1st – with Nick Kynoch arriving as the new General Counsel in late January. I am very much looking forward to...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-9-december-2015/

  4. 11 November 2015

    FMA Update - 11 November 2015

    Generic Content Bringing it all together Garth Stanish, director of the newly formed Capital Markets team, offers a glimpse of how the restructure will improve our support of the financial industry and investors. The FMA has created a new Capital Markets team to make sure we are staying true to our main objective — to promote and encourage fair, efficient and transparent financial markets. To help encourage capital market growth and support market integrity...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-11-november-2015/

  5. 15 October 2015

    FMA Update - 15 October 2015

    Generic Content   'C' is for conduct Yesterday I spoke at the Institute of Financial Professionals New Zealand (INFINZ) annual conference, providing more details on conduct regulation as it applies practically. My slides are attached here. Conduct regulation is new in New Zealand financial services, and we’re seeing a thirst among market participants to understand exactly how it will work. Over the next few months, we plan to provide more detail so f...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-15-october-2015/

  6. 17 September 2015

    FMA Update - 17 September 2015

    Generic Content Market engagement in a changing regulatory landscape John Botica joined the FMA in August 2013. He assumed the chief operating officer’s role, in July this year, which includes leading our market engagement activities. Here he highlights why engagement is important, and how people can get involved. The regulatory landscape has evolved significantly since the FMA was set up four years ago. The new Financial Markets Conduct Act, the biggest p...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-17-september-2015/

  7. 20 August 2015

    FMA Update - 20 August 2015

    Better disclosures, guidance, investor focus and capability building Last month’s message from Liam Mason touched on the importance of improving our understanding of the risk profile of regulated sectors by deepening our supervisory contact with them. Our activities continue to reflect our view of the risks within those sectors. Focus on sale practices, improved disclosures Our review of potential policy churn in the insurance industry reflects our focus on sales practices as shown in earlie...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-20-august-2015/

  8. 21 July 2015

    FMA Update - 21 July 2015

    Helping businesses adapt to the new regulatory regime Recently appointed director of regulation Liam Mason, shares his thoughts. It’s a privilege to be the new director of regulation at the FMA. This is an exciting time to take on a new role, backed by a dedicated and talented team. Across our Auckland and Wellington offices, our priority is to help businesses adapt to the new regulatory regime. We do this through: licensing, exemptions, information, and guidance. This update covers some of...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-21-july-2015/

  9. 17 June 2015

    FMA Update - 17 June 2015

    From the Chief Executive This month I wanted to highlight a couple of topics that are very much front of mind for us. MBIE recently released their comprehensive Issues Paper on the Financial Advisers Act review, which includes some of the FSPR regulations.  We strongly support the ‘root and branch’ approach to reviewing the operation of both of these sets of regulations. Frankly, neither currently operate in a way that’s satisfactory to regulators, industry or consumers. But the appetit...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-17-june-2015/

  10. 21 May 2015

    FMA Update - 21 May 2015

    On 1 May the FMA turned 4, marking yet another eventful year in our short but busy history. Notably, we also raced past the first anniversary for Phase 1 of the FMC Act. The freshness of these milestones reflects that while change has been a long time coming, we are still a new regulator operating in an even newer regulatory regime. Indeed key parts of the new reform process are still in progress. Various transition periods for new offer document requirements and licensing obligations for new...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-21-may-2015/

  11. 16 April 2015

    FMA Update - 16 April 2015

    Rob's desk Welcome to the first edition of our refreshed FMA Update. This refresh is one of many initiatives aimed at improving access to online regulatory information, especially for firms and professionals working in financial services and capital markets but also for anyone interested in knowing more about what we do. The FMA Update comes to you monthly, providing quick access to the latest guidance and reports we’ve published and consultations we have underway.  Overall, you’ll be abl...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-16-april-2015/

  12. 11 March 2015

    FMA Update - 11 March 2015

    Changes to FMA communications Last year, we reviewed the FMA website and the email communications we send to our subscribers against best practice guidelines. As a result of this review, we are about to make some major changes to both of these key communication channels. New FMA website Next week the FMA will launch a new website designed to provide easier access to key information, a simpler design and improved search functionality.Before developing the new site we sought advice from speciali...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-11-march-2015/

  13. 1 December 2014

    FMA Update - 1 December 2014

    Welcome to a new era in New Zealand’s financial markets Today marks an important milestone for New Zealand’s financial markets now that phase two of the Financial Markets Conduct Act 2013 (FMC Act) has come into effect. The new regulations are designed to build confidence in our financial markets and allow firms to raise capital efficiently so they can grow their business and the economy. The phase two regulations cover: new disclosure requirements go-live of the online registers the go...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-1-december-2014/

  14. 11 November 2014

    FMA Update - 11 November 2014

    FMC Act transition workshop for fund managers This month the Financial Markets Authority (FMA) is hosting two sessions to discuss the steps and activities managed investment scheme (MIS) managers need to take to transition to the Financial Markets Conduct Act (FMC Act). The sessions will appeal to managers of KiwiSaver, superannuation, unit trusts and other MIS. Auckland Date: Wednesday 19 November Time: 9:30 am – 11:30 am Venue: The Maritime Room, 149 Quay Street, Viaduct Harbour Wellingt...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-11-november-2014/

  15. 13 October 2014

    FMA Update - 13 October 2014

    Money Week ‘Heavy Weight Debate’ It’s Money Week and the perfect time to get your money fighting fit! The FMA will be hosting a panel discussion to promote greater understanding of investment risk at St Matthew in the City, on Thursday 16 October. The event is free and open to everyone.Find out more New guidance on Governance At the end of September we released our Guidance Note: Governance under Part 4 of the FMC Act.Part 4 introduces new reporting duties for debt issuers, MIS managers...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-13-october-2014/

  16. 15 September 2014

    FMA Update - 15 September 2014

    Generic Content Rob Everett presented to the Institute of Directors (IoD) The FMA’s Chief Executive, Rob Everett, was the guest speaker at IoD meetings in Auckland (August) and Wellington (September). He outlined expectations on directors, made some observations about the pool of director talent in New Zealand and conflicts of duties and interests, and the Financial Markets Conduct Act 2013 and the opportunities it brings. You can see a video summary of his...

    http://fma.govt.nz/news/fma-update/fma-updates/fma-update-15-september-2014/