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Financial Markets Authority - a new era in regulation - Webinar package

NZ $105.00
Sean Hughes  
Sean Hughes
Chief Executive
Financial Markets Authority

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Webinar Package includes:

Archive Presentation  l  Booklet  l  PowerPoint Presentation


Webinar Package Fee (incl GST)
$85 - NZLS members and Associate members
$105 - Non-members

Note: Access to the online files is via your "My CLE" page. If you would like to purchase multiple packages, please contact us here.


Webinar Archive Presentation

Presentation time: 1 hour

The Financial Markets Authority came into being as the new super regulator in May 2011, part of the fundamental reform of the legislative and regulatory framework governing New Zealand’s capital markets under the Financial Markets (Regulators and Kiwisaver) Act.

The FMA replaces the Securities and Commerce Commissions and assumes certain regulatory responsibilities from the MED, the Government Actuary and the Minister of Commerce. It has a broad sweep of powers and will be a more active regulator with increased enforcement provisions and criminal sanctions.

These changes have important practical implications for you and your clients – you need to be aware of what these are, and what you should be advising your clients in respect of dealing with the FMA.


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Author: Sean Hughes
Published: 25 November, 2011
Pages: 27

Please note this booklet is not available for purchase separately.


New era
  • The Financial Markets Authority (FMA) was established 1 May 2011 under the Financial Markets Authority Act 2011.
  • FMA took over the functions of the Securities Commission as well as the Government Actuary (in relation to KiwiSaver and superannuation schemes) and financial market participant-related roles of the Registrar of Companies, which were part of the Ministry of Economic Development.
  • FMA is New Zealand’s first fully-fledged financial services regulator.
  • Financial Markets Authority Act 2011 gives FMA significantly greater powers of surveillance, regulation and enforcement over a broader range of entities than before.
  • FMA is responsible for enforcing 20 pieces of legislation – many of which are new.
  • FMA was established in the wake of the Global Financial Crisis and the finance company sector collapse, and a recognition by Government that New Zealand’s regulatory settings were insufficient.

Statutory objectives

  • FMA has twin statutory objectives: to promote and facilitate fair, efficient and transparent markets, and to grow New Zealand’s capital base.
  • This positions FMA not just as a regulator but as an economic ambassador for New Zealand, charged with enabling growth and capital development.

Key priority – restoring investor confidence

  • This is the Government’s primary aim for FMA – to restore investor confidence in New Zealand’s capital markets.
  • It is a huge challenge and will take time.
  • Investor confidence is seen as critical if New Zealand is to develop the kinds of vibrant capital markets needed to attract investment in our productive companies and industries, and to create wealth by lifting our country’s economic performance.

FMA and Reserve Bank of New Zealand

  • New Zealand has a “twin peaks” regulatory model involving FMA as the markets and conduct regulator and the Reserve Bank of New Zealand (RBNZ) as the prudential regulator.
  • FMA and RBNZ have established a Council of Financial Regulators to foster high-level cooperation and information-sharing between the financial and prudential regulators.
  • The regulators have signed a Memorandum of Understanding.
  • The permanent members of the Council are FMA and RBNZ; associate members are The Treasury and Ministry of Economic Development.
  • The Council held its first meeting on 9 September 2011.
  • Meetings will be held on a quarterly basis, with FMA and RBNZ alternately hosting and chairing the meetings.


PowerPoint Presentation

These are the slides included in the webinar presentation.
Number of Slides: 10


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