FMA releases stakeholder feedback report

News release
5 December 2013

The Financial Markets Authority (FMA) today released the findings of the 2013 FMA stakeholder feedback report.

The report looked at FMA’s progress since its establishment on 1 May 2011 and surveyed stakeholder views on the following topics:

  • key achievements and shortcomings of FMA’s work to date
  • gaps in FMA’s activities or mandate
  • organisational capabilities of FMA
  • prioritisation of key shortcomings and gaps to be addressed
  • priorities for FMA going forward 

Overall, stakeholders recognised FMA as a capable, credible and professional regulator which has established a significantly stronger and improved regulatory framework. They were highly satisfied with FMA’s achievement of a significant cultural turn-around from the Securities Commission through its collaborative, engaged and proactive working style including the attraction of good talent and strong leadership and market presence.

FMA CEO Sean Hughes said the report was extremely useful as it told FMA what it was doing well and how it could improve.

“We have come a long way in a relatively short time, but our role is constantly evolving and we need to ensure we respond to the changing environment and emerging threats to our mandate,” said Mr Hughes.

“FMA has already addressed some of the stakeholder feedback to come out of this report and you will see this work continue into 2014 and beyond.”

The report was conducted by Oliver Wyman, a global consulting firm, who interviewed a selected group from a wide range of stakeholders to gain their perspectives on FMA’s activities.

A copy of the stakeholder feedback report can be found here.

Ends


Contact:
Tony Reid on 021 739 052 or tony.reid@fma.govt.nz