FMA focus - Money laundering, cybercrime, disclosure and more
The FMA has published its Annual Corporate Plan, which sets out the FMA’s activities for 2020/21 and promotes the regulator’s strategic priorities, addresses regulatory risks and harms, and monitors outcomes.
In his introduction to the report, FMA chief executive Rob Everett says while New Zealand saw major economic disruption due to the Covid-19 pandemic, it was not as severe as predicted, and financial services firms generally appear to have managed the crisis well.
"However, the work is not done. The FMA and the firms we regulate are operating against a backdrop of economic uncertainty, significant regulatory change, adoption of new ways of working, and changes in customer and investor preferences, including how they access financial services.
"Areas where we see the need to respond to rapidly developing conditions include products and services that have ESG (environmental, social and governance) aspects, fintech innovation, and the risks from cyber attacks or technology failures.
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