FMA chief outlines strategic regulatory focus for 2025
In the Financial Market Authority’s latest update, FMA CEO Samantha Barrass (pictured) highlighted the agency’s focus on consumer fairness and market efficiency.
Barrass discussed FMA’s priorities for 2025, emphasising a commitment to ensuring fair treatment for consumers and investors, promoting efficient and transparent markets, and fostering economic growth through supportive regulation.
Innovative approaches to financial regulation
FMA is set to introduce the next version of its Outcomes Focused Approach, reflecting significant advancements based on stakeholder feedback and collaborative efforts with the board.
Barrass said that the real value lies in its implementation.
“Ultimately though, it is simply words on a page,” she said. “What matters to me is how it will ensure our teams are focusing on the big picture, rather than minor compliance issues.”
Additionally, June will see the release of the Financial Conduct Report, aiming to enhance industry standards by outlining potential risks and FMA’s regulatory focus areas.
Engagement and expectations for the financial sector
FMA anticipates active engagement with the new minister of Commerce and Consumer Affairs, Scott Simpson, to discuss and enhance regulatory frameworks.
Barrass also touched on the recent launch of a pilot regulatory sandbox in collaboration with FinTech NZ and Minister Andrew Bayly, which allows for the testing of innovative financial products and services in a controlled environment.
This initiative is part of a broader effort to support financial innovation and assess its impacts comprehensively.
Strengthening financial markets through thoughtful regulation
2025 is described as pivotal for actualising FMA’s statutory purposes, with Barrass expressing hope that stakeholders will notice tangible improvements in the financial markets’ fairness, efficiency, and transparency.
FMA’s proactive approach includes not only rigorous enforcement but also a supportive stance towards financial institutions navigating the new regulatory landscape, especially with the implementation of the CoFI regime.
