What is the New Zealand Financial Markets Authority (FMA)? New Zealand Financial Markets Authority (FMA) Review, Features

The New Zealand Financial Markets Authority (FMA) is a government agency responsible for enforcing securities, financial reporting and corporate laws that apply to the financial services and securities markets.

About the Financial Markets Authority (FMA)

• The FMA replaced the original Securities Commission and took over some of the functions of the New Zealand government's Ministry of Economic Development. For example, the FMA can supervise the New Zealand government's budget and also perform some of the functions of the company registration office.
• The FMA regulates a wide range of entities, including product providers, infrastructure providers, advisers and discretionary managers, as well as frontline regulators.
• The FMA also regulates stock exchanges, financial advisers, brokers, auditors, trustees and issuers (including KiwiSaver issuers and superannuation schemes). The FMA jointly regulates New Zealand's designated settlement systems with the Reserve Bank of New Zealand (RBNZ). The FMA is a member of the New Zealand Financial Regulatory Commission.

Organizational Functions

1. Review and issue business licenses for financial services institutions;
2. Supervise the operation of financial service institutions and accept complaints from investors against financial institutions;
3. Investigation and enforcement, such as the FMA’s power to revoke the license of a financial institution that provides false information;
4. Policies and guidance, providing information to assist companies in carrying out financial activities in accordance with the law;
5. Education and popularization, FMA works with social organizations to help investors stay away from financial fraud and make correct investment decisions.

The main business of the New Zealand Financial Markets Authority (FMA):

1. Formulate financial market operation policies for the New Zealand government and provide effective guidance;
2. Monitor and manage participants in the financial markets and issue corresponding licenses to those who meet the rules;
3. Anti-money laundering, combating black money, and combating terrorist funding;
4. Investigate financial markets and enforce regulations;
5. Providing information, rules education and guidance to participants in financial markets;
6. Monitor the operation of New Zealand's financial markets to ensure they are sound and orderly;
7. Accept complaints and suggestions and respond within the specified time;
8. Regulate all activities in the financial markets.