Introducing the FMA

The Financial Markets Authority (FMA) is the New Zealand government agency responsible for enforcing securities, financial reporting and company law as they apply to financial services and securities markets. We also regulate securities exchanges, financial advisers and brokers, auditors, trustees and issuers - including issuers of KiwiSaver and superannuation schemes. We jointly oversee designated settlement systems in New Zealand, with the Reserve Bank of New Zealand (RBNZ).

Our vision is to promote and facilitate the development of fair, efficient and transparent financial markets.

As a risk-based conduct regulator, we focus our resources on conduct that we think poses the most significant risk to achieving this objective.

We were established in 2011 as an Independent Crown Entity. In 2014 we began working under a much wider mandate with the introduction of the Financial Markets Conduct Act 2013 (FMC Act). We now have an extended range of regulatory tools available to achieve better outcomes for investors, financial markets professionals and businesses.

In delivering our current regulatory objectives, we have seven strategic priority areas including governance and culture; conflicted conduct; capital market growth and integrity; sales and advice; investor decision making; effective frontline regulators; and FMA effectiveness and efficiency. You can find out more about these priority areas in our full Strategic Risk Outlook.

Our role in regulation

We are one of four main regulators. Here’s how we work together to regulate our economy and support a financially healthy New Zealand.

We are a member of New Zealand’s Council of Financial Regulators, alongside the Reserve Bank of New Zealand, New Zealand Treasury and the Ministry of Business, Innovation and Employment. We’re also a member of IOSCO - the International Organisation of Securities Commissions.

For a list of our major achievements and activities over the last 12 months, please see ourlatest annual report (View Transcript).

What we don't do and who may be able to help

Legal advice

·We do not provide legal advice.

·In most cases, you will need to talk to a qualified legal adviser who can tell you how the law applies to you and your particular circumstances. For free advice see the Citizens Advice Bureau.

Competition law and fair trading

·For matters about anti-competitive practices or complaints about misleading or deceptive conduct for financial products and services that occurred before 1 April 2014, you should contact the Commerce Commission.

Registered companies and other entities

·We cannot advise on whether a company is legitimate or if you should deal with a particular company. 

·To see if a company is registered, contact the New Zealand Companies Office. 

·The Companies Office also maintains registers for a range of entities such as incorporated societies, charitable trusts, and limited partnerships.

Financial Service Providers Register

·We don’t register financial service providers.

·The Financial Service Providers Register (FSPR) is maintained by the New Zealand Companies Office.

·You can check the Financial Service Providers Register to see if a person or business is registered.

·Financial service providers are not required to be monitored by the FMA simply as a result of registration.

·We check the qualifications, competence and good character of financial service providers and monitor them only if they are directly licensed by us.

Consumer scams

·Check out Consumer Protection for scams known to be circulating in New Zealand and you can report a scam on their website.

·If the scam relates to an illegal investment offer or scheme you should also contact the FMA.

·You can report any online incidents such as scams, frauds, privacy breaches or suspicious spam messages to NetSafe.

Credit (including hire purchase) and debt

·Consumer Protection and the Commerce Commission have information about your rights when you use credit cards, store cards, buy goods or services on credit or get cash loans.

·If you're worried about a loan you've got with a finance company, you can also contact Consumer Protection.

Resolving disputes

·We don't get involved with individuals' disputes.

·All financial service providers who offer financial services to retail clients must belong to an independent dispute resolution scheme.

·Your financial service provider must provide the name of their dispute resolution scheme in their disclosure documents, or you can search for it on the Financial Service Provider Register.

·There are four schemes and they offer free services to help you resolve disputes:

·The Banking Ombudsman investigates and resolves disputes between customers and their banks. They also deal with complaints about a range of non-bank financial service providers.

·The Insurance & Financial Services Ombudsman considers complaints about insurers and other financial service providers that are members of its scheme.

·Financial Services Complaints Limited considers complaints against financial service providers that are members of its scheme.

·Financial Dispute Resolution (operated by FairWay Resolution) considers complaints against financial service providers that are members of its scheme.

Advice on making investment decisions

·While we don't give specific investment advice, general information is available in the Investor section of this site.

·You can also find information on investing on the Sortedwebsite.

Advice on buying and selling a property

·The Real Estate Agents Authorityhas information on your rights when you buy and sell a property.

·They will consider complaints about behaviour of real estate agents.

Identity theft, financial crimes or fraud

·You should contact the Police in the first instance.

·The Serious Fraud Office investigates serious or complex fraud.

Advice on choosing a financial adviser

·We do not give any advice on choosing a financial adviser - but we do offer you some tips on getting financial advice.

·You can also visit the Sorted website to find out more about how to choose a financial adviser and how to get good financial or investment advice.

Prudential supervision of banks and insurers

·The Reserve Bank of New Zealand (RBNZ) registers banks, licenses insurers (insurance companies) and undertakes their prudential supervision.

Media advertising

·While we regulate advertisements of securities, media advertisements must also comply with the Advertising Standards Authority's Code of Practice for Financial Advertising. 

Professionals offering financial services

·Some professionals offering financial services may be regulated by an independent body such as:

·New Zealand Institute of Chartered Accountants

·New Zealand Law Society

·New Zealand Society of Conveyancers

Contact us

questions@fma.govt.nz

Phone: 0800 434 566    
Overseas Calls: 00 64 3 962 2698

Our lines are open Monday to Friday - 8:30am to 5:00pm