Bigger remit sees FMA numbers swell
In its annual report to June 2023, FMA counted 326 staff, up from 263 in 2021. This included 289 permanent staff, seven on fixed term employment, 28 contractors and two secondees.
The FMA said it implemented a new organisational structure to better align how it operates with its priorities, including a shift in focus from investors to consumers, and its expanded remit which included overseeing change in the form of the Conduct of
Financial Institutions (COFI) regime, the financial advice licensing regime, and the climate related disclosure (CRD) regime.
Chief executive Samantha Barrass earned between $610,000 and $620,000. More than half the staff, 197, were on salaries above $100,000. Cessation payments totalling $881, 236 were paid to seven staff.
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