26 November, 2014
Commerce and Consumer Affairs Minister Paul Goldsmith today announced the appointment of Murray Jack as the new chair of the Financial Markets Authority (FMA).
“I am very pleased that Mr Jack has agreed to take on this crucial role,” Mr Goldsmith says.
“With extensive experience in both senior management and governance roles in the financial sector, Mr Jack has good credentials to chair the FMA.
Mr Jack is former chair of the board of Deloitte New Zealand and previously held the role of chief executive there. He has also been a FMA board member since its establishment in 2011 and has chaired the FMA’s Audit and Risk Committee.
“As chair of the FMA board, Mr Jack assumes a significant strategic role in ensuring that the FMA delivers on its objective to promote fair, efficient and transparent financial markets.
“He will guide the FMA in the implementation of the second phase of the Financial Markets Conduct Act regulations and other recent financial market law reforms and in its development as an effective markets regulator,” says Mr Goldsmith.
The FMA was established by the government in 2011 to grow public confidence in New Zealand’s financial markets and to support the growth of New Zealand’s capital markets.
“I would also like to take this opportunity to acknowledge and thank out-going chair Simon Allen for his contribution and commitment over the past three years and his willingness to extend his role beyond the initial term. Simon has led the FMA very well, and has been instrumental in shaping the vision for the FMA since its inception, and helped build it into a strong, credible regulator,” says Mr Goldsmith.
The Governor General appointed Murray Jack to chair the FMA board from 1 December 2014 until 30 April 2019.
For more information about the FMA visit www.fma.govt.nz
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Murray Jack was most recently board chairman of Deloitte New Zealand (from 2011- November 2014) and previously its chief executive (2005-2011). He is a board member of the New Zealand Institute of Chartered Accountants (since 2009) and Chairman-designate of Chartered Accountants Australia and New Zealand, the proposed new trans-Tasman entity merging NZICA with its Australian counterpart, the Institute of Chartered Accountants Australia. He co-led the Ministerial inquiry into the Novopay project, and chaired the Taskforce on Regulations Affecting School Performance.
The Financial Markets Authority is New Zealand’s financial markets regulator. It is an independent Crown Entity whose main objective is to promote and facilitate the development of fair, efficient, and transparent financial markets.