Below is information about the types of financial services and products we regulate.
Direct regulatory relationship |
Other level of regulation/oversight |
Issuers |
Brokers |
Trading venues (eg financial product markets such as NZX) |
Wholesale funds |
Alternative capital raising (eg peer-to-peer and crowdfunding) |
Custodians |
Audit |
Retail platforms and aggregators |
Market infrastructure (eg settlement systems) |
Life insurance |
Retail funds, KiwiSaver, superannuation etc |
Non-life insurance |
Supervisors and licensed independent trustees |
Banking:
|
Discretionary investment management services (DIMS) |
|
Financial Advice Providers |
|
Derivatives issuers |
The following principles underpin our regulatory approach and guide our regulatory decisions.
Intelligence-led and harm-based: we are a risk-based regulator which means we identify and focus our efforts on areas of greatest harm consumers and financial markets.
Outcome-focused: we focus our resources on where we have the greatest opportunity of achieving desired outcomes and reducing harm. We consider the most appropriate action for each situation, recognising the limits of our powers, and considering regulatory burden.
Effective and efficient: we regularly review the use of our resources to enhance our effectiveness and efficiency.
Consistent and transparent: we clearly communicate our intentions and expectations to market participants, and explain our actions.
Flexible and responsive: we have an operating model that enables us to adapt and respond quickly to changing market conditions. We seek and act on feedback, and learn from our experiences.
A systems view: we promote an integrated and coordinated approach to financial markets regulation in New Zealand. The FMA is a member of the Council of Financial Regulators (CoFR), together with the RBNZ, MBIE, Treasury and the Commerce Commission. CoFR provides a forum for a continuous, forward-looking focus on system risks and regulatory coordination by members.
Go to the Enforcement page to find out more about our approach to enforcement.
Go to the Financial Markets Conduct Act page to find out more about the Act and go the Legislation page to find out about other financial markets legislation we oversee.
Capable, confident and well-informed investors are an essential part of healthy financial markets. Part of our role is to help investors build this capability.
Our objective is to build investor confidence and understanding so they can make informed investment decisions and choose the right products.
The FMA is a trusted, independent source of information for consumers on:
Influencing industry
As the regulator, we require the finance industry to treat customers and investors fairly. We work with industry to continually improve their products and processes with their customers in mind. We do this by:
What we want consumers to do
We want KiwiSaver members to
Our consumer advisory network helps us ensure consumer perspectives are considered and addressed in our investor capability strategy and initiatives, and in our broader regulatory activities.
The current member organisations are:
If your organisation is interested in becoming part of the network please contact us. Member organisations agree to our Charter of Participation.
Legal advice
The Citizens Advice Bureau may be able to provide free advice for some consumer issues.
Competition law
The Commerce Commission may be able to assist with matters about anti-competitive practices.
Registered companies
The Companies Office holds information about registered companies. It maintains registers for a range of entities such as incorporated societies, charitable trusts, and limited partnerships. It also maintains the Financial Service Providers Register, where you can check if a person or business is registered to provide a financial service. Financial service providers are not required to be monitored by the FMA simply as a result of registration. We check the qualifications, competence and good character of financial service providers and monitor them only if they are directly licensed by us.
Scams
Consumer Protection shares details of scams known to be circulating in New Zealand and you can report a scam on their website.
You can report any online incidents such as scams, frauds, privacy breaches or suspicious spam messages to NetSafe.
Credit (including hire purchase) and debt
Consumer Protection and the Commerce Commission have information about your rights when you use credit cards, store cards, buy goods or services on credit or get cash loans.
If you're worried about a loan you've got with a finance company, you can also contact Consumer Protection.
Resolving disputes
Your financial service provider must provide the name of their dispute resolution scheme in their disclosure documents, or you can search for it on the Financial Service Provider Register (FSPR)
There are four schemes and they offer free services to help you resolve disputes:
Financial decisions
Our investor section includes information about investing. Sorted also has information on financial planning and investing.
Buying and selling a property
The Real Estate Agents Authority has information on your rights when you buy and sell a property. They will consider complaints about behaviour of real estate agents.
Identity theft, financial crimes or fraud
You should contact the Police in the first instance. The Serious Fraud Office investigates serious or complex fraud.
Advice on choosing a financial advice provider
Our investor section includes information about getting financial advice. You can also visit the Sorted website to find out more about how to choose a financial advice provider.
Prudential supervision of banks and insurers
The Reserve Bank of New Zealand (RBNZ) registers banks, licenses insurers (insurance companies) and undertakes their prudential supervision.
Media advertising
While we regulate advertisements of securities, media advertisements must also comply with the Advertising Standards Authority's Code of Practice for Financial Advertising.
Professionals offering financial services
Some professionals offering financial services may be regulated by an independent body such as: