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Whether it’s during sessions with the Asia Pacific Regional Committee or with other regulators outside of the region, the same topics came up repeatedly at IOSCO - financial advice; crowdfunding regimes; monitoring frameworks for licensed sectors; fees and disclosures in funds management and cross-border co-operation in enforcement. The cross-over in issues on securities regulators' plates is very clear.
As we prepare for the International Monetary Fund's FSAP visit later this year, where we will be measured against the IOSCO principles for securities regulators, being able to test our approach with other regulators is beneficial. A number of regulators showed particular interest in our crowdfunding and peer-to-peer lending framework as many are in the process of consulting on enabling legislation. They have the same balancing act between fostering innovation and breadth in capital-raising versus protecting investors - something our legislators faced when introducing the relevant provisions of the FMC Act.
I am always proud to represent NZ at these events, and greatly encouraged by the positive light in which NZ and its cultural values are viewed by all participants.
Rob Everett
Chief Executive, FMA
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