Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

FMA sets out its work plan for the year ahead

FMA sets out its work plan for the year ahead

The FMA has released its annual corporate plan as the conduct and culture of New Zealand’s financial services industry comes under greater scrutiny.

The plan sets out the work the FMA intends to undertake in the year ahead. The FMA can and does respond to changes in the market but strategic priorities are not expected to alter as the year progresses.

The FMA/RBNZ Conduct and Culture review now underway demonstrates this. The review brought forward some areas of work set out in last year’s plan and intensified work in other areas that was already underway.

Rob Everett, FMA Chief Executive said, “While the FMA continues to foster a collaborative approach with industry, firms have now had sufficient time to understand their obligations and our expectations under the new regulations introduced over the last few years.

We have become increasingly impatient with instances of a lack of attention to better customer outcomes and strong conduct frameworks from parts of the industry.

In the year ahead, the FMA expects firms to be able to provide concrete evidence of progress they’ve made in putting good conduct outcomes at the heart of their business.”

The FMA’s strategic priorities remain the same as last year, with the addition of perimeter misconduct as a stand-alone priority. A developing theme is also the current legislative reviews of the financial markets eco-system that could affect the FMA.

The FMA Annual Corporate Plan can be found here. The FMA’s other core documents are:
Strategic Risk Outlook
Statement of Intent
Statement of Performance Expectations
Annual Reports

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Retail: International Websites To Pay GST

New rules would be aimed at imported goods valued at or below $1,000. Customs would retain responsibility for collecting GST on imported parcels valued more than $1,000. More>>

ALSO:

High-Level Advice: PM’s Business Advisory Council Membership Announced

The Prime Minister’s Business Advisory Council brings together a mix of experts, six women and seven men with small to large business experience, from across New Zealand, to provide advice. More>>

ALSO:

Improving: Report Shows New Zealand Air Quality 'Good'

Our air 2018, produced by the Ministry for the Environment and Stats NZ, shows that while some previously known issues persist, progress has been made and levels of some pollutants are declining. More>>

ALSO:

Greenpeace: Govt Extends OMV Exploration Permit

The Government has just granted oil giant OMV a two-year extension to drill in the Great South Basin, despite issuing a ban on new oil and gas exploration permits in April. More>>

ALSO:

Collective Bargaining For Contractors: Working Group's Model For Screen Sector

A recommended model to allow collective bargaining for contractors in the screen sector has today been unveiled by the Government-convened Film Industry Working Group. More>>

ALSO:

Kauri Dieback: DOC Closing Tracks To Protect Trees

The Department of Conservation will close 21 tracks across kauri land to help prevent the spread of kauri dieback. An additional 10 tracks will also be partially closed and the open sections upgraded... More>>