Fcr report from new zealand

You're looking for a report on the Financial Conduct Authority (FCA) from New Zealand!

The Financial Markets Authority (FMA) is the primary regulatory body in New Zealand responsible for overseeing the financial markets and ensuring that financial institutions operate in a fair and transparent manner. Here's a brief report on the FMA's activities and key statistics:

FMA's Key Activities:

  1. Regulatory Oversight: The FMA regulates and supervises around 200 financial institutions, including banks, insurance companies, investment managers, and securities exchanges.
  2. Market Conduct: The FMA monitors and enforces market conduct rules to ensure that financial institutions operate fairly and transparently.
  3. Investor Protection: The FMA provides guidance and support to investors, and works to protect them from financial harm.
  4. Financial Stability: The FMA contributes to the stability of the financial system by monitoring and addressing potential risks.

Key Statistics:

  1. Number of Regulated Entities: 200+ financial institutions, including banks, insurance companies, investment managers, and securities exchanges.
  2. Investor Complaints: The FMA received 1,444 investor complaints in 2020, with 74% being resolved in favor of the investor.
  3. Enforcement Actions: The FMA took enforcement action against 14 entities in 2020, resulting in fines and penalties totaling NZD 1.4 million.
  4. Financial Stability: The FMA's stress testing exercises in 2020 found that the New Zealand financial system is resilient to potential shocks, but identified areas for improvement.

Recent Developments:

  1. COVID-19 Response: The FMA worked closely with the Reserve Bank of New Zealand and other regulatory bodies to respond to the COVID-19 pandemic, including providing guidance on financial institution operations and investor protection.
  2. Financial Market Reforms: The FMA has been working on reforms to improve the resilience and efficiency of New Zealand's financial markets, including the introduction of a new financial market infrastructure framework.

Overall, the FMA plays a critical role in maintaining the stability and integrity of New Zealand's financial system, and its activities are focused on protecting investors, promoting fair market conduct, and ensuring financial stability.