National is working to restore the confidence of mum and dad investors, while developing capital markets to help businesses grow. On too many occasions in finance company collapses we heard of investors' money falling to the floor through the cracks between regulators.
A new “super regulator” for our financial markets will be up and running early next year.
The Financial Markets Authority will enforce securities, financial reporting, and company law applying to financial services and securities markets. It will also regulate and oversee trustees, auditors, financial advisers, and financial service providers including people who offer investments.
The Financial Markets Authority will focus on visible, proactive, and timely enforcement.
For more information visit: http://www.beehive.govt.nz/release/government+announces+%e2%80%98super-regulator039+financial+markets
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