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FMA publishes annual report

Our 2016 report highlights how we have moved from transitional mode to establishing ourselves as a fully-fledged conduct regulator.



The end of the beginning….

Rob Everett, Chief Executive, FMA


I have used this phrase before to describe the state of play for the new FMC Act regime but it still reflects where we are today.

December 1 is a critical milestone for NZ’s financial services and capital markets. A number of transition periods for the FMC Act expire and it’s the deadline for the licensing of any investment schemes that fit within the MIS definition.

As such, we at the FMA will head into 2017 with a sense of liberation. The planning and the implementation is (mostly!) over and our full remit is upon us.


Our funding review will have finished and we will know what financial resource we have to plan for 2016-17 and the years beyond.

We plan to update our Strategic Risk Outlook in Jan/Feb and off the back of that, like many organisations we will be laying out our objectives during February and March and planning our detailed resource allocation and budgets. This will translate into a new Statement of Intent (May/June) and a published corporate plan (July/August).

All of this will involve a long hard look at the regulatory outcomes we are striving for, how we hope to achieve them and the measures against which we will judge our performance.  This is a critical part of our forward planning and we also understand the need to be as transparent as possible to our stakeholders about where we allocate our financial and human resource, why, and to what effect. 

These decisions always involve difficult judgement calls that don’t meet universal approval. But as a taxpayer and industry-funded body, we know that the more transparency we can provide the better the confidence that everyone knows what we are up to and why.


Rob Everett

Chief Executive

KiwiSaver annual report released

Total money in KiwiSaver funds continues to grow, but at a much slower pace than the previous two years as both returns and numbers of new members decline.




Consultations closing this month.


14 October


NZX’s review of corporate governance best practice code. Read more ›

28 October


Content of regulatory returns for prescribed intermediary service licensees. We are seeking feedback from licensed crowdfunding and peer-to-peer lending service providers on the information they will have to supply in their annual regulatory returns.  Read more ›

31 October


A guide to the FMA’s view of conduct. Read more ›

Regulatory update

Read our latest update on the work we have done using legislative tools to support businesses implementing the FMC Act (current up to 30 September). 


Will you be compliant before 1 December?

Helping businesses become compliant before 1 December is a key priority for us. However, processing applications, exemptions or other matters takes time to get right. 


As some matters take longer than others, we strongly encourage all those businesses that may have applications or matters to be assessed necessary for compliance on 1 December, to contact us as soon as possible.


For non-transitional matters (for example, issuing new financial products or non-transitional related exemptions) our ability to process these will be limited. We ask for your patience and to factor in extra time in your applications over this period.

Contact us
Law firms offering contributory mortgages

On 1 October 2016, we became the regulator for law firms offering contributory mortgages. 


Law firms offering existing contributory mortgages can continue to do so under the Securities Act 1978 with a general exemption for contributory mortgage providers (the SA regime). 


However, if your  law firm intends to rely on the SA regime, your firm must have been registered on the contributory mortgage broker register from 1 October 2016.  


More information is available on the Companies Office website.


Fraud film festival

The inaugural New Zealand International Fraud Film Festival is coming to Auckland’s Q Theatre in November. The festival is timed to coincide with November’s Fraud Awareness Week and will open on Friday 18 November.


The two-day film festival is designed to bring to life the issue of fraud and other forms of financial crimes in New Zealand.



Need to renew your AFA authorisation or QFE status soon? Do it online.

Save time and paper by using our new online service to renew your AFA authorisation or QFE status.


Renewal applications can be submitted and paid online as early as six weeks for AFAs or three months for QFEs before authorisation or status expires.


Free resources for consumers

Did you know we have a range of downloadable resources to support consumers’ investment goals? Now updated, they cover everything from ‘How to be a smart investor’ through to ‘How to spot an investment scam’.


Coming soon

Look out for the following publications we’ll be releasing before the end of the year.

  • Audit quality review 2016
  • Conduct review 2016
  • AML/CFT report 2016

Industry insights

Superannuation the least important element of retirement savings, says report - The Guardian

The CEO guide to customer experience - McKinsey & Company

Are investors underestimating the risk of a recession? - BlackRock Blog


Systemic risk: Definition and application - CFA Institute

What you miss when you take notes on your laptop - HBR


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