How super is the market regulator?

How super is the market regulator?
Simon Power was a much younger fellow when he embarked on securities law reform. (Image: Getty)
Paul McBeth
The Financial Markets Authority did everyone a favour by releasing its lessons learned from the disgraceful Barry Kloogh fraud. Not only did it get to make a plea to policymakers to expand its regulatory perimeter, but it also cleared wrap platform Consilium and custodian FNZ of any wrongdoing while also identifying some substandard industry practices at the time. Hooray – another chance for the Financial Markets Authority (FMA) to issue another set of guidelines! Bank of New Zealand took a wee slapping over how rigorous it...

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