1. Compliance
  2. Supervisors
  3. Who needs to comply
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Page last updated: 21 Feb 2019

Who needs to comply

This section defines the types of supervisors covered by the Financial Markets Supervisors Act 2011.

Supervisors are appointed to look after investors' interests for some types of financial products and the interests of residents of retirement villages. Supervisors covered by the Financial Markets Supervisors Act 2011 (the FMS Act) are those who supervise the following:

debt securities

registered schemes, in these categories:

  • KiwiSaver schemes
  • non-fund schemes
  • specified managed funds
  • superannuation schemes and

retirement villages.

Trustees of restricted KiwiSaver schemes are not covered by the FMS Act. Under the requirements of the FMC Act 2013, restricted schemes must have a licensed independent trustee.

See our section on independent trustees for more information.

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