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Supporting investor confidence

Simone Robbers, Director of Strategy and Risk and Acting Director of External Communications and Investor Capability, FMA


Recently, we have been concentrating our activities on investor decision-making, an important strategic priority for us. Last week, we worked collaboratively with the Commission for Financial Capability (CFFC) on their awareness raising initiative, Sorted Money Week.

Our Money Week focus this year was on helping younger KiwiSaver members prepare for when investment markets fall in value; many KiwiSaver members in the 18-30 age bracket have never experienced a major fall in the value of their investments. We created a KiwiSaver risk quiz, to raise awareness and to underline our message that being in the right fund for your needs is the best way to prepare. So far, more than 11,000 people have taken the quiz.


We will continue to raise awareness through World Investor Week, which runs from 1-7 October. This year our focus is to help investors understand the steps to take to become capable investors. We also encourage people to use our KiwiSaver tracker to easily find information about how their fund has performed and what fees are being charged, relative to other KiwiSaver funds.

Good conduct

Our Chief Executive, Rob Everett recently spoke at the Financial Services Council and Workplace Savings NZ 2018 National Conference about the role that trust plays in financial services. We aim to build confidence in the markets through our focus on conduct, and on the governance, systems and processes that deliver good outcomes for customers.


Closely related to this, our work programme has also been dominated by the Conduct and Culture Review, in conjunction with the Reserve Bank of New Zealand. In our review, we are making assessments across four broad themes: governance, conduct risk management, customer focus and remediation. We are looking at the intent of the organisations, but also how it is actually working in practice. We have largely completed our on-site reviews of Banks and we have commenced our on-site reviews of insurance firms. We expect to be able to provide a report on our findings in the banking sector in early November and in December for insurance firms.


And lastly on governance, we think high standards of corporate governance in New Zealand companies is vital for supporting investor confidence. We have recently worked with the Institute of Directors to refresh and update our quick reference guide, which can be found here. It outlines some of the legal requirements, ethical considerations and best practice areas for directors to consider, so they can be effective in the role.



Simone Robbers

Director of Strategy and Risk and Acting Director of External Communications and Investor Capability, FMA

Director guide

In collaboration with the Institute of Directors, we have released The essentials of being a director.


This guide is intended to provide company directors and prospective directors with a quick reference and overview of some of the key things they should think about. It outlines some of the legal requirements, ethical considerations and best practice areas for directors to consider, to be effective in their role.




30 September

AFA information returns: Submissions close Sunday 30 September 2018. More >

KiwiSaver Tracker data updated

Our KiwiSaver Tracker has now been updated with data for the June 2018 quarter.


You can see data from the previous periods at this link.


Asia Region Funds Passport industry day

The Financial Services Council is hosting an industry day on the Asia Region Funds Passport (ARFP) in Auckland on 21 September 2018. Regulators from New Zealand, Australia, Japan, Korea and Thailand will be attending and answering questions.

If you are interested in attending this event, please contact

Find out more about the ARFP on our website.


Is it normal for your KiwiSaver balance to go up and down?

This is one of the questions we asked New Zealanders in our Sorted Money Week KiwiSaver Risk Quiz.  Designed to help KiwiSaver members understand how to react in stormy investment markets, 11,000 have tested their knowledge so far.


Scores were higher than expected for some of the questions – 94% knew it was normal for their KiwiSaver balance to go up and down. However, investors did struggle with two of the questions, highlighting potential areas of focus for us and our investor capability work.

World Investor Week 2018


The second World Investor Week runs from 1-7 October. This year our focus is to help investors understand the steps to take to become capable investors.


If your organisation is interested in running an event in support of World Investor Week, please email


Product Disclosure Statements in Te Reo Maori

In the spirit of Maori language week, we thought we’d remind you of our recent decision to grant an exemption to enable disclosure statements to be provided in both te reo Māori and English. We think this will mean a PDS could be provided in a more engaging and accessible form for those who are more comfortable receiving information in te reo Māori.

We are carrying out targeted consultation on the draft exemption notice, including the scope of the conditions and aim to have it finalised in the coming months.

Please email for more information or if you are interested in producing a dual-language PDS.

Intending to become an AFA?

If you plan to become an AFA using the old National Certificate in Financial Services (Financial Advice) Level 5, please submit your application no later than 1 November 2018. See our website for more details.



Consultations and Exemptions

Consultations on the proposed exemptions below closed recently. We are considering submissions and will update you on our decisions when they are made:

  • Exemption for restricted schemes from custodian assurance requirements;
  • Exemption from the requirement to disclose the name of individual loan assets.

Suspected scams and fake regulators top our warning list

We’re continuing to receive a large number of reports of unregistered businesses, many of which have the hallmarks of scams.


Recently we have also seen fake financial regulator websites. Our improved warnings list now tags each warning so you can see at a glance why we are raising concerns.


Warnings list
New anti-money laundering video

We have produced a short video on Anti-Money Laundering (AML) to help our reporting entities understand how they can meet their obligation of training new and existing staff. The importance of training for a fully functional AML/CFT framework should not be underestimated. Good training ensures staff know what to look out for, whom to tell if they see something unusual and what to do about it.

Watch video

What's coming up

KiwiSaver Annual Report 2018


Next month, we’ll be publishing our KiwiSaver Annual Report 2018, which reports on the main KiwiSaver activities and trends this year. Promoting an effective KiwiSaver market is a critical priority for us.

We’re hiring

Join a vibrant and dynamic team that embraces work-life balance, a commitment to employee well-being, and opportunities for learning and development.  Check our website to find out more.


Licence application service unavailable

We regret to advise that our online licence application service is unavailable and apologise for any inconvenience this may cause. If you are planning to submit a licence application, or need help doing so, please get in touch with our licensing team who will be happy to help. Please note all AFA information returns submissions are not affected at this time.

FMA news

12 SeptemberKiwiSaver Risk Quiz highlights key messages for investors


6 September - Preparing for investment storms


6 September - Forestlands companies placed in liquidation by High Court


29 AugustHelping KiwiSaver members weather investment storms

Industry insights

Competition in the Australian Financial System

Australian Government Productivity Commission 


ASIC’s review of direct life insurance finds high cancellation rates and poor claims outcomes

Australian Securities and Investments Commission


Global Financial Innovation Network

Financial Conduct Authority

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