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Securities trustees and statutory supervisors monitoring

Page last updated: 1 Jun 2013

This guidance note is for licensed securities trustees and statutory supervisors. It sets out the Financial Market Authority’s (FMA) expectations of how they will carry out their monitoring functions effectively. Licensed securities trustees and statutory supervisors (licensees) play an important role in monitoring the activities of the supervised entities on behalf of investors and residents of retirement villages. This guidance note focuses on factors licensees should consider in designing and carrying out monitoring plans for the entities they supervise, and the qualities they should demonstrate when doing this. Issuing guidance is just one of the ways FMA is transparent and shares our intended approach with the market. Guidance helps market participants to be confident they understand our approach and how we interpret, and intend to apply, the law relating to licensees’ responsibilities. This guidance note will also be of interest to entities supervised by licensees, as it explains how their securities trustee or statutory supervisor may undertake its monitoring functions. This guidance note is based on regulatory requirements as at June 2013.