You're subscribed as [email address suppressed] View online  |  Preference Centre
 
FMA - FINANCIAL MARKETS AUTHORITY  
 
FMA UPDATE
 
FMA'S ROLE           COMPLIANCE           CONSUMERS           NEWS           CONTACT US  
 
 
Creating confidence in investors – it’s a partnership
 

Paul Gregory, Director of External Communications and Investor Capability, FMA

 

Confident, capable New Zealand investors are critical to the FMA’s purpose of promoting and facilitating the development of fair, efficient and transparent financial markets. Why? Because unconfident investors lack the ability and the will to actually invest – whatever the quality of markets. 


For us, being a capable investor is about knowing what you want to achieve.  It’s also about knowing you have to do your homework before deciding what and who is going to help you achieve it.  And importantly it’s about knowing to keep an eye on what you buy so it stays up to the job.

 

We recognise none of this is easy. Most New Zealanders will never be investment experts. For most of us, faced with a potentially complex decision probably a long time in the future, it’s tempting to go with a known brand, or copy what others are doing.
 


Our focus is on making sure when New Zealanders hit those decisions points, reluctantly or otherwise, they can easily find good tools and resources to help them have meaningful conversations with their bank, adviser or other provider. This improves their chances of getting a service or product that meets their actual needs.


We can’t do this alone. We work closely with the Commission for Financial Capability to promote the broader messages about what New Zealanders need to think about. The best time to help New Zealanders focus on making good investment decisions is when they’re actually doing it. We’re not there for that. But the industry is. Maybe it’s you or the people you work with who can help your customers at those times.


We look to the industry to provide New Zealanders with the information or advice they need. Make sure your people and resources are up to that important job (you’re welcome to use the language and messages we use and point them to the resources on our website).


Ultimately, New Zealanders, the industry and the FMA share the same interest. Fair, efficient and transparent markets can be made deeper, larger and more rewarding only by capable, confident investors.



 
Two new information sheets for fund managers
 

How  to calculate 0% PIR returns

 

This information sheet sets out the formula we expect managers of portfolio investment entity (PIE) funds to use when calculating a fund’s return with a 0% prescribed investor rate.

 
More
 
 
 
 

 

 

How performance-based fees should be disclosed

 

This information sheet outlines how we expect fund managers to disclose performance-based fees to investors.

 
More
 


Reminders
 

Consultation closing

 

24 March

 



 
Online services expanding
 

The FMA will soon launch a new e-services portal for its customers, accessed directly from the FMA website homepage. AFA and QFE renewals, and AML/CFT and AFA returns, will be the first services available on the new portal when it goes live in April/May.

 

Additional services will be added once the portal is operational. We’ll provide further information on the launch date in next month’s FMA Update.

 


MIS manager licence applications take time to get right, so get in early
 

Our experience with DIMS licensing tells us MIS licence applications will involve at least some engagement with us before they are ready for approval. Some applications will take longer than others and therefore require more input from us.


To ensure we can give you the right level of support and you can achieve your licence by 1 December, we strongly recommend you talk to your supervisor and to us about your application, and plan to submit it in the first half of the year.

 

Check our tips on the MIS manager licence resources page of our website to make your application easier.

 


 
International audit regulators call for measurable improvement by 2019
 

The pace of audit quality improvement is too slow and measureable improvement is needed, the Independent Forum of Independent Audit Regulators (IFIAR) found in its annual survey.

 
More
 


 
Do you know the different ways to invest?
 

Designed with novice investors in mind, we’ve recently updated and added new information about  managed funds, bonds and cash. Get in-the-know with what you need to know.

 

 

Bonds


Bonds generally offer more stable returns and lower risks than investments such as property or shares. But some bonds are riskier than others.

 
More
 


 
 

Cash investments


Cash investments are a common way to save money. They’re considered relatively safe because you’re promised a fixed interest rate. But they’re not always the best option – particularly if you’re saving for retirement.

 
More
 
 
 
 

Managed funds

 

Managed funds enable you to invest in different types of assets, even if you don’t know much about investing. If you’re in a KiwiSaver scheme, your money will be invested in managed funds.

 
More
 


 
Consumer advisory network established
 

We have established a consumer advisory network to help ensure consumer perspectives are considered and addressed.    Members include organisations that represent the views of, or work regularly with consumers.

 
More
 


 
FMA news
 

 

11 March 2016 – The FMA's 100 billion dollar challenge: Raising confidence in the managed funds industry

 

 



Feedback?
 

Email us at communications@fma.govt.nz

 

 



FMA - FINANCIAL MARKETS AUTHORITY     Financial Markets Authority
Level 5, Ernst & Young Building
2 Takutai Square
Britomart
Auckland 1143
 
 
Unsubscribe
 
 
Copyright © 2016 Financial Markets Authority. All rights reserved.