Financial Markets Authority - New Zealand

Have you checked out our November FMA Update newsletter yet? In this issue, we cover: CoFI Licensing Audit quality monitoring report CEO roundtable Fraud awareness week Climate related disclosures Exemption updates Read more: https://loom.ly/7QGm3ec Subscribe here: https://loom.ly/dgsAHoY #FMAUpdate #FMA #CofiLicensing #KiwiSaver #Ethicalinvesting

Jess and Stuart are back for episode 4 of our Navigating KiwiSaver series. Last week they discussed contributions, this week Stuart explains KiwiSaver fees, he also touches on active and passive investments. Have a listen here: https://loom.ly/0ZX6SWQ Or watch the video on YouTube here: https://loom.ly/rr1zUx8 #KiwiSaver #Podcast #FMA #Financialplanning #retirement #firsthome #kiwiSaverfees

The Audit Quality Monitoring Report 2024 published today summarises our findings from the quality reviews we carried out between 1 July 2023 and 30 June 2024. Our review found the audit quality of reporting entities remains strong, though some inconsistencies in execution are holding back the ability to produce stronger evidence and support for audit opinions.  Our reviews help improve audit quality standards and ensure audit opinions are reliable. These reviews also help us to achieve our strategic goal of ensuring that investors have access to resources that help them make better-informed financial decisions. Read the report here https://lnkd.in/gHAskxDU

Are you enjoying our Navigating KiwiSaver Podcast? Tomorrow, we share episode 4! Jess asks Stuart about KiwiSaver fees, what they pay for and why. Stay tuned! #KiwiSaver #Podcast #FMA #Financialplanning #retirement #firsthome #KiwiSaverfees

We wanted to remind all banks, insurers and non-bank deposit takers who provide relevant services to New Zealand consumers….With just 5 weeks left until Christmas, if you haven’t already, now’s the time for to get your CoFI licence application submitted. We're here to help you navigate the process and ensure you're licensed by 31 March 2025. Getting your application in early gives us the time we need to review and process everything smoothly. If you have questions or need assistance, don't hesitate to reach out. Email us at [email protected]. #FMA #Licensing #FinancialInstitutions #GetLicensed #FMAlicence #Compliance #NZFinance

The FMA hosted a roundtable that brought together 10 CEOs from New Zealand’s Non-Bank Deposit-Taker (NBDT) sector, representing Building Societies, Credit Unions, and Deposit-Taking Finance Companies. Those in attendance explored the impact of CoFI requirements, proportionality in regulation, and the role of engagement in fostering trust and innovation. Attendees valued the opportunity to discuss operational constraints and regulatory complexities openly, highlighting the importance of tailored oversight to support resilience, competition and growth in the sector. Participants commended the FMA for fostering dialogue on balancing compliance with operational constraints. This roundtable reinforced the FMA’s commitment to supporting a dynamic and resilient NBDT sector while maintaining high standards of integrity and consumer protection. Further engagements will build on these insights to address emerging challenges effectively.  #CoFI #FMA #Roundtable #CEO

As we wrap up Fraud Awareness Week, remember staying safe from scams doesn’t end here. If you suspect you've encountered a scam, or just want to learn more about protecting yourself, there are plenty of resources available to help. The FMA is here to help: Visit our website for resources on protecting yourself from scams. Follow us on social media for the latest scam alerts. Subscribe to email updates to receive scam warnings directly in your inbox. Report a suspected scam here: https://loom.ly/d8zXplI Stay safe, stay alert, and check it out with someone else. #FraudAwaranessWeek #FMA #StopScams #StaySafe #ReportAScam

Did you know there are five contribution rates when it comes to your KiwiSaver — 3%, 4%, 6%, 8% or 10? Along with your personal contributions, your employer contributes to you KiwiSaver as well as the Government. Episode 3 of our Navigating KiwiSaver series is out now! This week Stuart explains to Jess the importance of contribution rates and why a yearly review could be beneficial. Listen here: https://lnkd.in/gHTW4_7d Or watch on YouTube: https://lnkd.in/g7V3K-yx #KiwiSaver #Contributions #FMA #Investments #KiwiSaverNZ

We were delighted to host the International Organization of Securities Commissions - IOSCO Assessment Committee in Tāmaki Makaurau. A productive meeting focused on key global financial market issues, including market surveillance and sustainability practices.

We participated in a successful breakfast roundtable yesterday, hosted by the Financial Services Council New Zealand (FSC). The FMA team—Anna Jared Romil Ghelani, CPA, CMA, Emma Wallace, and Michael Hewes—gave an overview of the Conduct of Financial Institutions (CoFI) regime. We discussed the ‘why’ behind CoFI, its implementation, and its intersection with Financial Advice Providers. Michael Hewes said the breakfast roundtable provided the FMA a great opportunity to engage and listen to market participants. Our sincere thanks to the FSC and everyone who joined us. CoFI introduces a new regime that regulates the conduct of banks, insurers, and non-bank deposit takers, expanding the FMA’s remit to hold these financial institutions accountable and ensure better protection for consumers. Find out more about CoFI here: https://lnkd.in/gvzbvyGv #FMA #CoFI #FinancialMarkets #FAPs #RegulatoryCompliance #FinancialAdvice #ConsumerProtection #FinancialInstitutions