This new investment comes with a heightened need for transparency about how we allocate our resources and why. We intend, over the coming months, to provide a clearer line of sight between our identification and prioritisation of risks, the outcomes we’re targeting, actions we take and the costs those actions impose on industry.
We’re starting with the review and refresh of our Strategic Risk Outlook
(SRO), scheduled for publication in February. The SRO sets out our view of the key drivers of risks to fair, efficient and transparent financial markets, and our priorities based on those drivers. These priorities will flow through to our objectives and the actions we’ll take to achieve them, set out in our Statement of Intent and annual corporate plan. And we’ll report on what we’ve achieved in our Annual Report.
We will be getting a global perspective on our work next year, when the IMF completes its review of New Zealand’s financial system. The IMF’s financial sector expert is here now, looking at our regulatory framework for managed investment schemes, meeting with both FMA staff and a variety of market participants. The outputs of the IMF’s review – a combination of Detailed Assessment Reports and Technical Notes - are expected sometime in the first half of 2017.
Liam Mason
Director of Regulation, FMA
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