Media Release
28 August 2017
MR No. 2017-37
The Financial Markets Authority is publishing its annual corporate plan for the first time, setting out its planned regulatory activities and key areas of focus to June 2018.
Publishing the plan is part of the increased transparency the FMA committed to, as part of the review which increased its funding from July this year. It was the FMA’s first funding review since it was established in 2011.
The activities in the plan are designed to respond to the areas of risk identified in the Strategic Risk Outlook, published in February this year. The plan includes:
- our organisational objectives and planned activities for 2017/18
- the outcomes we seek to achieve through our work
- future focus areas
- the regulated sectors and financial markets our work will impact
- how we intend to measure our success and progress during the year.
Rob Everett, FMA Chief Executive said, “We committed to the government and industry to show how we will be using our resources. The plan delivers on that, showing how we will we focus on improving financial service providers’ conduct and how we will measure our effectiveness.”
The plan is organised according to FMA’s seven strategic priorities:
- Governance and culture
- Conflicted conduct
- Capital market growth and integrity
- Investor decision-making
- Sales and advice
- Frontline regulators
- FMA effectiveness and efficiency
The plan does not cover every aspect of the FMA’s work and its teams will continue to respond to any new risks or harms that appear. The FMA’s responses to the recommendations from IMF’s recent review of New Zealand’s financial system are marked in the plan as (IMF FSAP).
The FMA Annual Corporate Plan can be found here with FMA’s core documents:
Media contact:
Andrew Park
021 220 6770
[email protected]
