The Financial Markets Authority (FMA) is the New Zealand government agency responsible for enforcing securities, financial reporting and company law as they apply to financial services and securities markets. We also regulate securities exchanges, financial advisers and brokers, auditors, trustees and issuers - including issuers of KiwiSaver and superannuation schemes. We jointly oversee designated settlement systems in New Zealand, with the Reserve Bank of New Zealand (RBNZ).
Our vision is to promote and facilitate the development of fair, efficient and transparent financial markets.
As a risk-based conduct regulator, we focus our resources on conduct that we think poses the most significant risk to achieving this objective.
We were established in 2011 as an Independent Crown Entity. In 2014 we began working under a much wider mandate with the introduction of the Financial Markets Conduct Act 2013 (FMC Act). We now have an extended range of regulatory tools available to achieve better outcomes for investors, financial markets professionals and businesses.
In delivering our current regulatory objectives, we have seven strategic priority areas including governance and culture; conflicted conduct; capital market growth and integrity; sales and advice; investor decision making; effective frontline regulators; and FMA effectiveness and efficiency. You can find out more about these priority areas in our full Strategic Risk Outlook.
Our role in regulation
Our purpose is to promote and facilitate the development of fair, efficient and transparent financial markets. We work across a number of areas to achieve this, collaborating with other agencies where their mandate aligns with our own.
We are a member of New Zealand’s Council of Financial Regulators, alongside the Reserve Bank of New Zealand, New Zealand Treasury and the Ministry of Business, Innovation and Employment. We’re also a member of IOSCO - the International Organisation of Securities Commissions.
In most cases, you will need to talk to a qualified legal adviser who can tell you how the law applies to you and your particular circumstances. For free advice see the Citizens Advice Bureau.
Competition law and fair trading
For matters about anti-competitive practices or complaints about misleading or deceptive conduct for financial products and services that occurred before 1 April 2014, you should contact the Commerce Commission.
Registered companies and other entities
We cannot advise on whether a company is legitimate or if you should deal with a particular company.