ZB ZB
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

FMA wants firms to work with them

Author
Sam Thompson ,
Publish Date
Mon, 9 Mar 2015, 2:16PM

FMA wants firms to work with them

Author
Sam Thompson ,
Publish Date
Mon, 9 Mar 2015, 2:16PM

The Financial Markets Authority is encouraging firms to be open with them, especially where things have gone wrong.

Most financial market participants now need a licence from the FMA to run their businesses.

Director of Compliance Elaine Campbell says they are shifting to a supervision approach, to identify and anticipate potential causes of harm to the integrity of the markets and interests of investors.

She's expecting firms to do more than just comply with the new laws.

"What we're asking the board to really focus on is what is the outcome we are trying to achieve with this compliance, rather than doing the bare minimum to sneak over the line."

Elaine Campbell says most financial marker participants now need a licence from FMA to run their businesses.

"We want that to be an open and transparent relationship where we can work with them to assist them to comply, but when things go wrong they come to us quickly and early and we can work together."

 

Take your Radio, Podcasts and Music with you