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FMA welcomes discussion document on funding

Media Release
10 June 2011

The Financial Markets Authority has welcomed the Government's release of a discussion document on third party funding options for financial regulation.

Chief Executive Sean Hughes says with budgets now established, the discussion document provides an important opportunity for all market participants to contribute their views on the best options for collection of levies to fund FMA's broadened scope and responsibilities.

"FMA has a responsibility to use the resources we've been provided with in the most effective manner. We encourage submitters to consider the best model for delivering improved confidence in investment markets," said Mr Hughes.

FMA will provide input to the Government on the proposal and will be encouraging all its stakeholders to respond.

"Clearly though the policies for third party funding and the model to be adopted is ultimately a matter for the Government to decide, after consideration of the issues raised by submitters."