FMA fair ‘outcomes’ agenda cops industry flak as misguided

Liam Mason, FMA general counsel. (Image: NZME)

Wed, 20 Mar 2024

Last November, the Financial Markets Authority set course for a regulation revolution by nailing seven new guiding principles in a manifesto for change.According to the draft Financial Markets Authority (FMA) proposal, the new world of financial regulation will be centred around “seven fair outcomes for consumers and markets that we consider firms should be working towards”. The principles, as below, sound innocuous enough: Consumers have access to appropriate products and services that meet their needs;   Consumers r...

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