Page last updated: 09 October 2024

Regulatory co-operation

We coordinate our efforts and share intelligence with other government agencies to ensure our work is informed, proportionate and effective.

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Regulatory co-operation in New Zealand

The Council of Financial Regulators (CoFR) – Kaunihera Kaiwhakarite Ahumoni – contributes to maximising New Zealand’s sustainable, economic wellbeing through effective and responsive regulation of the financial system in New Zealand. Read more on the CoFR website

Global co-operation

The FMA works with the Australian Securities and Investments Commission (ASIC) to streamline trans-Tasman regulation, to reduce compliance costs and facilitate opportunities for New Zealand investors.
We are also a member of the Trans-Tasman Council on Banking Supervision, set up by the Australian Treasurer and New Zealand Minister of Finance. This was to encourage a joint approach to trans-Tasman banking supervision; promote and review crisis preparedness and enhance policy harmonisation, mutual recognition and trans-Tasman cooperation.
We also contribute to the development of international standards for financial market regulation and are a member of IOSCO - the International Organisation of Securities Commissions.

MOUs with other financial regulators and agencies

Bilateral MOUs

The FMA also has bilateral MOU obligations with 15 countries, the most significant being with the Australian regulator, ASIC. The FMA and ASIC signed a new MOU in relation to assistance and mutual cooperation on 28 August 2012.

MOUs with European Union (EU) authorities

The FMA has entered into 24 supervisory cooperation agreements with EU securities regulators to supervise fund managers operating across borders.

The agreements allow New Zealand fund managers to manage and market alternative investment funds in the EU under the rules of the alternative investment fund managers directive.

MOUs have been entered into by the FMA and the following EU authorities:

Name of Regulator	Country	Date
Financial Supervision Commission	Bulgaria	12 Dec 2013
Cyprus Securities and Exchange Commission	Cyprus	12 Dec 2013
Czech National Bank	Czech Republic	12 Dec 2013
Finanstilsynet	Denmark	12 Dec 2013
Estonian Financial Supervision Authority	Estonia	12 Dec 2013
EU competent authorities	Ireland	12 Dec 2013
Finanssivalvonta	Finland	12 Dec 2013
Autorite des marches financiers	France	12 Dec 2013
Hellenic Capital Market Commission	Greece	12 Dec 2013
The Central Bank of Hungary	Hungary	14 April 2014
Fjarmalaeftirlitid	Iceland	12 Dec 2013
Commissione Nazionale per le Societa e la Borsa	Italy	12 Dec 2013
Finansu un capitala tirgus komisija	Latvia	12 Dec 2013
Finanzmarktaufsicht	Liechtenstein	12 Dec 2013
Bank of Lithuania	Lithuania	12 Dec 2013
Commission de Surveillance du Secteur Financier	Luxembourg	12 Dec 2013
Malta Financial Services Authority	Malta	12 Dec 2013
Finanstilsynet	Norway	12 Dec 2013
Polish Financial Supervision Authority	Poland	12 Dec 2013
Comissao do Mercado de Valores Mobiliarios	Portugal	12 Dec 2013
Romanian Financial Supervisory Authority	Romania	12 Dec 2013
National Bank of Slovakia	Slovakia	6 Jan 2014
Comision Nacional del Mercado de Valores	Spain	12 Dec 2013
Finansinspektionen	Sweden	12 Dec 2013
Authoriteit Financiele Markten	The Netherlands	12 Dec 2013

Other MOUs

Consumer vulnerability framework

CoFR has agreed to a non-binding framework for industry when developing or reviewing the way it treats vulnerable customers. When considering customer vulnerability practices, we would expect industry to consult widely in developing your own terminology, procedures, and processes for assisting vulnerable consumers. These should focus on the evolving needs of the consumers you serve, should be appropriate for your business and in accordance with any specific legislative requirements.

Consumer vulnerability framework