22 July 2011

FMA makes three appointments to strategic leadership team

Media Release
22 July 2011

The Financial Markets Authority has strengthened its strategic leadership team with three appointments to key positions in support of Chief Executive Sean Hughes.

Mr Hughes said these first appointments were the result an extensive search in New Zealand and internationally for FMA's seven strategic leadership team roles. He expected to be able to announce further appointments in the coming weeks.

The new roles and appointees are:

Elaine Campbell, Head of Compliance Monitoring

Ms Campbell brings considerable experience in the oversight of regulated entities, from both her recent roles as Head of Market Supervision at NZX Limited and as Executive Counsel of the NZ Markets Disciplinary Tribunal.

Her new role at FMA will be to develop and lead the commercial and infrastructure monitoring function, which will include monitoring of trustees, qualifying financial entities, brokers, financial services providers, auditors, superannuation and KiwiSaver schemes, fund managers, futures dealers, clearing houses, registered markets and secondary market activity.

Liam Mason, Head of Legal and Board Secretary

Mr Mason is one of New Zealand's foremost securities law experts and was previously General Counsel for the Securities Commission. He played a key advisory role to the Select Committee on the new FMA legislation, and is currently seconded on a part-time basis to the Ministry of Economic Development working on securities law reform.

His new role at FMA will be to provide in-house counsel and independent advice to the Board on legal matters.

Sue Brown, Head of Primary Regulatory Operations

Ms Brown is a senior lawyer with a strong background in financial markets, products and services in New Zealand, Australia and the UK. She was a partner of DLA Phillips Fox until 2010.

Her new role will be to develop and lead FMA's regulatory strategies and activities relating to the primary and retail financial markets, including financial advisers.

Mr Hughes said the appointments confirmed a wealth of experience and expertise that FMA would be able to draw on as it developed its role as New Zealand's first fully-fledged financial services law enforcement body operating in the capital markets.

"The Board joins me in congratulating Elaine, Liam and Sue on their new positions," said Mr Hughes.

"I am very pleased that they have agreed to take on the many challenges that lie ahead of us as we build FMA's capabilities and its connections with the markets, Government and the New Zealand public."