The Monetary Markets Authority (FMA) – Te Mana Tātai
Hokohoko – has revealed its up to date method to
outcomes-focused regulation after contemplating large ranging
suggestions from monetary companies corporations, client teams and
regulation corporations.
An outcomes-focused method means the FMA
focuses its assets on the tip outcomes that regulation is
aiming to realize for customers and monetary
markets.
In November 2023, the FMA revealed its
method to end result targeted regulation. It obtained extra
than 50 submissions from a spread of events. The
session closed in March 2024, and the FMA has rigorously
thought of and adjusted its method to replicate the
suggestions.
Clare Bolingford, Government
Director, Regulatory Supply mentioned: “The method focuses
on probably the most vital dangers and alternatives for New
Zealand companies, buyers, and customers, helps reduces
pointless regulatory burden on the trade, and gives
market contributors with better flexibility in assembly
regulatory obligations.”
In our public
session final 12 months, the FMA sought to check what honest
outcomes are for customers and markets.
“On this
doc we have now reframed the outcomes in response to the
suggestions we obtained, to make clear them and to higher present how
they hyperlink to the FMA’s fundamental statutory goal and the
functions of our laws,” Ms Bolingford
mentioned.
Learn the outcomes-focused regulation doc right here.
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