Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Funding boost for FMA and Companies Office

Hon Paul Goldsmith

Minister of Commerce and Consumer Affairs

3 November 2016

Funding boost for FMA and Companies Office

Commerce and Consumer Affairs Minister Paul Goldsmith has today announced the government’s approval to increase funding for the Financial Markets Authority (FMA) and the Companies Office.

“The increased funding will help these organisations maintain a well-regulated business environment for New Zealanders.

“The FMA will get an additional $9.8 million per year and the Companies Office, an additional $5.3 million per year,” says Mr Goldsmith.

The FMA was established in 2011 and is New Zealand’s primary financial markets regulator. Since then, its regulatory responsibilities have significantly expanded, largely due to the overhaul of New Zealand’s securities law.

“The FMA’s funding increase will come from changes in levies on financial services providers. While the majority of levy payers will see an increase, the consultation process has given consideration to the structure of the FMA levy model so as not to pose barriers to entry or growth for levy payers.

“The FMA performs an important role in fostering investor confidence by ensuring all players in our financial markets are playing by the rules,” says Mr Goldsmith.

“Changes have also been made to reduce Companies Office fees, making it more affordable to do business in New Zealand.

“Extra resource, however, will be focused on enforcement of the law and the integrity of the Companies Register,” says Mr Goldsmith.

More information about the funding increase can be found here: www.mbie.govt.nz/info-services/business/business-law/fma-funding-and-levies-decisions.

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines



Gordon Campbell: On The Newshub/Smokefree Twin Fiascos


Here’s a tale of two sunset industries. One has a track record of quality investigative reporting, and sound reportage of the 24/7 news cycle. The other sunset industry peddles a deadly substance that kills and injures tens of thousands of New Zealanders every year, while imposing significant annual costs on the public health system.

Which industry is this government rushing to assist..?
More


 
 


ACT: New Zealand Dodges Dopey Experiment In Prohibition

“Labour’s attempted crackdown on smokers would have delivered criminal groups a near-monopoly over the cigarette trade,” says ACT Health spokesman Todd Stephenson... More


Government: Backs Police To Crackdown On Gangs
The coalition Government is restoring law and order by providing police new tools to crack down on criminal gangs, says Justice Minister Paul Goldsmith and Police Minister Mark Mitchell. “Over the last five years gangs have recruited more than 3000 members, a 51 per cent increase... More


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.