FMA Outlines Short-term Priorities In Response To COVID-19
The Financial Markets Authority (FMA) has today released an information sheet outlining its priorities over the next three to six months as New Zealand continues to respond to COVID-19.
Rob Everett, FMA CEO, said COVID-19 has significantly impacted the global economy and the FMA is focused on ensuring the financial sector can respond to future challenges, and support customers and investors.
“Outlining our short-term priorities will help the industry, customers and investors understand where we are focusing our efforts, primarily at monitoring changing regulatory risks and ensuring that we can respond appropriately,” said Mr Everett.
Key regulatory risks the FMA will focus on include:
1. Investor and customer behaviour and decision-making
2. Fair, efficient and transparent capital markets
3. Financial sector resilience
4. Reintroduction of regulatory activities
5. Treatment of customers and investors
6. Scams and fraud
The FMA usually publishes an Annual Corporate Plan at this time of the year, outlining the work the regulator intends to undertake. The FMA will release a plan later this year and in the meantime is publishing this short-term priorities document.
Mr Everett has also written a related article for the FMA website, Keeping our eyes on the road ahead.