26 May 2016
Financial Markets Authority chief executive Rob Everett is giving the market watchdog a pass mark as it nears the end of its establishment phase and starts taking a closer look at ensuring firms’ conduct is up to scratch.
Speaking at a Trans-Tasman Business Circle event in Auckland, Everett said he was pleased with the way the regulator ran its enforcement of the finance company cases, its transparency in consultation and policy work, its engagement with newly regulated sectors and supervision of NZX, and what it’s done in corporate governance.
The market watchdog has been operating for five years, and Everett said the start-up phase with the staggered introduction of regulations under the Financial Markets Conduct Act was only just coming to an end, and while he thought the FMA had achieved a pass mark, “we can do a lot better.”
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