New Zealand's Financial Market's Authority Podcasts

Kiwis are increasingly turning to social media for money advice from finfluencers and online forums to podcasts. Some of this content can be genuinely informative, but other posts can be misleading, heavily promotional, or even linked to scams.In this episode of our Occasional Conversation podcast, Jess is joined by Anna Godfrey from our Financial Advice team and Elizabeth Asmerom Asfaha from our Regulatory Services team to unpack what to look out for when engaging with money content online.They discuss:What “finfluencers” are and why their content is so popularThe difference between general financial information and regulated financial adviceCommon red flags, including guaranteed returns, pressure tactics and flashy lifestyle marketingWhat to look for in paid promotions, referral links and sponsored contentSimple steps you can take before acting on money advice they see onlineThe risks for financial advisers and firms using finfluencers or influencer-style contentIf you come across money content that feels high pressure, too good to be true, or unclear about incentives, slow down and do your research.Find our finfluencer guidance here: Staying Safe with Online Money Advice | Financial Markets Authority

Financial advice can make a real difference to people’s financial wellbeing but not everyone in New Zealand is able to access it.In this episode of 5 mins with the FMA, we talk with Romil Ghelani, Head of Financial Advice at the FMA, about the findings from the FMA’s Access to Financial Advice Review.The review looks at:How many New Zealanders are accessing financial adviceWhy some groups are under‑representedWhat consumers think financial advice is — and what stops them from using itThe role of technology and innovation, including AIOpportunities for the sector to improve access and outcomesThe review is based on research with 1,000 New Zealanders and extensive engagement with the financial advice industry. It forms the basis for the FMA’s ongoing conversations with industry about how we can collectively improve access to financial advice for New Zealanders.Find the full reports and more information on our website: https://www.fma.govt.nz/library/reports-and-papers/access-to-financial-advice-in-new-zealand/

In this episode of Jess Learns to Invest, Jess sits down with Tom Hartmann, Personal Finance Lead at Sorted, to unpack one of the most important concepts in investing: portfolio diversification.Together, they break down what a portfolio actually is, why diversification matters, and how spreading your investments across different assets, industries and regions can help manage risk over time. They also explore how diversification works inside managed funds and KiwiSaver, the difference between diversification and asset allocation, and why “set and forget” doesn’t mean “never check”.In this episode, you’ll learn:• What a portfolio is (and why it’s more than just one investment)• What diversification really means and how it helps manage risk• The difference between diversification and asset allocation• How managed funds and KiwiSaver can help you diversify from day one• Why rebalancing matters and how fund managers do it for you• Common diversification mistakes and how to avoid them• Why fees matter over the long term🎧 Jess Learns to Invest is a podcast helping New Zealanders understand investing in a clear, practical way.🔗 Find tools mentioned in this episode at sorted.org.nzThis podcast is general information only and is not financial advice.

Jess Learns to Invest is back for Season 2! In Episode 1, Jess is joined by Dr Pushpa Wood, Director at Massey University, to unpack investment psychology and explore how emotions and biases influence the way we make money decisions.This episode covers loss aversion, anchoring, and herd behaviour along with practical, behaviour‑based strategies to keep investing aligned with your goals.  In this episode, you’ll learn:How emotional investing can impact money decisions The most common decision-making biases (and what they look like in real life) How to avoid FOMO investingImportant: This episode is for general information only and is not financial advice. #JessLearnsToInvest #Investing #FinancialWellbeing #InvestmentPsychology #FOMO #BehaviouralFinance

Jess Learns to Invest season 1 offers a comprehensive introduction to investing, emphasising the importance of starting small, being consistent, and learning progressively. The series covers fundamental concepts such as compounding interest, market volatility, and different investment types, while also addressing practical tips and ethical considerations.Some of the key takeaways from this season include:• Start investing with small steps: Jess highlights that perfection is not required to begin investing; consistency and gradual learning are key. Starting with manageable amounts builds confidence over time. • Investing grows wealth beyond saving: Simran Kaur explains that investing helps money grow through compounding, unlike saving which merely keeps money safe. Regular contributions, even if small, can accumulate significantly. • Automate investments for ease: Frances Cook advises setting up automatic transfers to savings and investments to build good financial habits effortlessly and avoid procrastination. • Understand managed funds: Managed funds pool money from multiple investors and are managed by professionals who invest in income-generating or growth assets, making them a good starting point for new investors. • Be patient during market volatility: Brad Olsen explains that market volatility involves rapid price changes; investors should maintain perspective and avoid panic during downturns. • Creative approaches to property investing: Vanessa Williams discusses that property investing can involve strategies beyond buying a home to hold, such as renting rooms or partnering with others, tailored to individual goals. • Invest in familiar companies through shares: Natalie Ferguson notes that buying shares means owning a part of a company, and starting with companies one knows can be a practical approach.• Ethical investing aligns with values: Victoria Harris emphasises that investing in companies supports their growth and success, essentially voting with one’s wallet for the future one wants. • Stay vigilant against scams: Samantha McGuire warns about increasingly sophisticated scams targeting everyday investors, urging caution, verification of credentials, and scepticism of offers that seem too good to be true. • Crypto is a digital means of payment. If you’re curious about Crypto, Peter explains that you should start small, stick to reputable platforms, and never invest more than you can afford to lose.Season 2 is in the works so stay tuned!

Join FMA Head of Audit, Financial Reporting and Climate Related Disclosures, Jacco Moison, as we unpack the latest Audit Quality Monitoring Report.  ✔ Why audit quality matters ✔ Key findings from this year’s review ✔ What auditors and directors should focus onWatch now and stay informed about how we’re building trust in New Zealand’s financial markets. Read the full report here: Audit Quality Monitoring Report 2024/25

Join Jess from the FMA External Communications team for a deep dive into the world of cryptocurrencies! In this episode of Jess Learns to Invest, tech journalist Peter Griffin shares his insights on what crypto is, how it works, and how to invest safely. Whether you’re a curious beginner or a seasoned investor, you’ll learn about the evolution of crypto, market risks, scams, and practical tips for getting started. Discover why trust and research matter, and how crypto might shape the future of money.Key topics:What is cryptocurrency?How does blockchain work?Investing safely in cryptoMarket volatility and riskAvoiding scamsThe future of digital money

As part of their CoFI licence obligations, financial institutions have a legal obligation to comply with a set of standard conditions. Two of these – Standard Condition 4 and Standard Condition 5 – are critical to operational resilience. Standard Condition 4 relates to outsourcing.  If a financial institution outsources any system or process essential to providing services, it must ensure the provider can deliver to a standard that allows the financial institution to meet all its market services licensee obligations, including fair treatment of customers.  Standard Condition 5 is focused on business continuity and technology systems.  This means maintaining a business continuity plan tailored to the financial institution’s scale and scope. For any critical technology systems, where disruption would materially affect service provision or other obligations, the financial institution must ensure operational resilience by preserving confidentiality, integrity and availability of information and systems.  A financial institution’s business continuity plan and technology systems must be established, implemented and maintained in a way that supports compliance with their fair conduct programme.  Any event that materially impacts the operational resilience of its technology systems must be notified to the FMA as soon as possible, and in any case, no later than 72 hours after discovering the event.  

All licensed Financial Advice Providers must submit an annual regulatory return as part of licensing conditions. With seven more calendar days to go have your submitted your return?  The submission period closes on 30 September 2025.Regulatory returns should be submitted through the FMA Online Services portal: https://www.fma.govt.nz/business/online-servicesYou can find frequently asked questions and an information sheet on regulatory returns on our Financial Advice Providers regulatory returns page.

In this episode of 5 Minutes with the FMA, host Heidi Norman is joined by Executive Director Licensing and Conduct Supervision, Clare Bolingford to discuss why complaints are a focus for the FMA the We want financial service providers to ensure their complaints processes are accessible, fair, and effective, not only by making it easy to complain, but also by understanding and addressing the reasons some consumers don’t. We see complaints as moments of truth, revealing not just what went wrong, but how well firms respond when it matters most.

In this powerful episode, Jess from the FMA’s external communications team sits down with Samantha McGuire, Manager of Regulatory Services, to unpack the growing threat of investment scams in Aotearoa.From slick fake crypto platforms to deepfake endorsements featuring celebrities and politicians, scammers are getting smarter and everyday New Zealanders are being targeted.In this episode:What defines an investment scam (and how it differs from other scams)Ponzi schemes, pyramid schemes, and fake platformsThe rise of AI-driven scams and deepfakesCrypto scams and recovery scams what to watch out forRed flags and psychological triggers scammers useWhy anyone can be a victim — and how to protect yourselfWhat to do if you or someone you love has been scammedHow to report scams and support others through recoveryWhether you're new to investing or just want to stay safe online, this episode is packed with practical advice and eye-opening insights.Learn more and access scam warnings at https://www.fma.govt.nz

In this episode, Jess sits down with Victoria Harris from The Curve to explore the world of ethical investing. What does it mean to invest ethically? Can you still get good returns? And how do you know if your KiwiSaver or investment fund aligns with your values?From fast fashion and fossil fuels to greenwashing and generational shifts, Victoria breaks down the key concepts behind ethical investing and shares practical advice for anyone wanting to balance financial goals with personal values.Whether you’re just starting out or reassessing your current investments, this episode is packed with real talk, relatable stories, and actionable tips to help you invest with confidence and conscience.Key takeaways:How to identify your non-negotiablesSpotting greenwashing in funds and companiesEthical investing doesn’t mean sacrificing returnsWhy your KiwiSaver matters more than you thinkTips for navigating investing platforms and buzzwordsTune in and learn how to make your money work for both your future and your values.

Join Jess, a 28-year-old newbie in the world of investing, as she navigates the ups and downs of becoming an investor. Just like you, she's learning the ropes. Each month, Jess teams up with a different expert who shares practical insights and tips to help demystify investing.In this episode, Jess sits down with Natalie Ferguson from Powrsuit to explore the world of shares. What are they? How do you buy them? And what does it really mean to own a slice of a company?From Labubu analogies to handbag comparisons, Natalie breaks down the jargon and shares real-life examples that make investing feel human, not intimidating.Whether you’re just starting out or looking to build confidence, this episode is packed with practical tips to help you take your first steps — and understand what you’re actually investing in.Listen now.

In the first episode of our new podcast series Inside the FMA, we discuss the Financial Markets Authority’s efforts to ensure fair dealing in New Zealand’s financial services sector. Since the Conduct and Culture review in 2018, the FMA has taken 12 cases to court, leading to over $215 million in customer repayments and $16 million in penalties.Join Sinéad Lloyd, Manager Investigations, and Rachael Manttan, Head of Evidence and Investigations, as they discuss:• what constitutes a fair dealing breach under the Financial Markets Conduct Act• how poor systems and controls can lead to long-term consumer harm• the importance of self-reporting and proactive product reviews, and• expectations under the Conduct of Financial Institutions (CoFI) regime.Stay informed and learn how the FMA is working to protect everyday New Zealanders.Visit our website for more insights: https://www.fma.govt.nz

Join Jess, a 28-year-old newbie in the world of investing, as she navigates the ups and downs of becoming an investor. Just like you, she's learning the ropes. Each month, Jess teams up with a different expert who shares practical insights and tips to help demystify investing.At the FMA, we believe in empowering New Zealanders with the knowledge to make informed financial decisions. The Jess Learns to Invest podcast is part of our commitment to making financial capability accessible, relatable, and useful for everyday Kiwis.In this episode, Jess sits down with Kim Martin from the Treasury to explore the world of bonds. What are they? How do they work? And why might they be a smart addition to your investment strategy?Whether you're just starting out or looking to diversify your portfolio, this episode is packed with practical tips and relatable examples to help you feel more confident about your financial future.

In this episode of 5 Minutes with the FMA, host Chris Daniels is joined by Regulatory Services Advisor Elizabeth Asmerom Esfahan to unpack the latest trends in investment scams targeting New Zealanders.Elizabeth sheds light on the evolving tactics scammers are using from fake comparison websites to impersonation via text and messaging apps. They discuss AI, where deepfake videos and automated scam networks are making fraud more convincing than ever.Learn why scams are no longer small-time operations but large-scale international businesses and how the financial industry and individuals alike can push back. From protecting your company’s online presence to doing personal due diligence before investing, this episode is packed with insights on staying safe in a shifting digital landscape.

We’ve released our 2025 Financial Conduct Report.This report outlines the key risks and opportunities the FMA will focus on over the next 12 months. It reflects our outcomes-focused approach and provides clarity for industry on our regulatory priorities.We encourage Boards, Executives and Leaders within financial services to consider how these insights can support better outcomes for consumers and markets.

Are you ready to take your first step into property investing? In this episode Jess talks to Vanessa Williams from Realestate.co.nz, diving deep into the do's and don'ts of real estate and property investing. Vanessa talks about navigating New Zealand’s housing market, spotting investment opportunities and maximising your returns. Property investing is the process of purchasing real estate with the goal of generating income, profit, or long-term financial growth. Investors buy properties to rent out, renovate for resale, or hold for future value appreciation.

New research published by the FMA's economics team this week shows that while many New Zealanders feel confident in their financial decisions, there are significant gaps between their financial goals and actual holdings of investment products.    Good Cents: Kiwis on Savings and Debt looks into New Zealanders' attitudes and behaviours towards savings, debt reduction, and financial guidance. FMA Head of Economics and Research Gael Price speaks about the research, which found there is room for financial providers to help New Zealanders better align investment choices with financial goals, help them better understand debt management, and increase their comfort with seeking financial information.

Market volatility is about how much and how quickly prices in the market change. When prices move a lot, there's a chance to make money, but there's also more risk. Remember, market volatility is normal. In this episode, you'll learn what market volatility is, how it can affect your investments, and what it means for your KiwiSaver.This episode features Brad Olsen, the Chief Executive and Principal Economist at Infometrics.Join Jess, a 27-year-old newcomer to the investing world, as she navigates the highs and lows of becoming an investor. Like many of you, she's learning the ropes. Each month, Jess collaborates with a different expert who shares invaluable insights and tips about investing.At the FMA, we believe in empowering New Zealanders with the knowledge to make informed financial decisions.

In this edition of 5 mins with the FMA Head of Financial Advice Romil Ghelani speaks to Heidi Norman about the Financial Advice Review. Regulatory Returns data signals a healthy financial sector. This is the first time the FMA has collected a comprehensive snapshot of the financial advice sector since the new Financial Advice regime came into effect in March 2023.  This data is derived from the 2024 Financial Advice Provider regulatory returns and provides valuable insights into what types of products are being advised on as well as the way customers are receiving that advice. The FMA will use this data to help shape the way we supervise and engage with the sector going forward. Additional information can be found here: https://statics.teams.cdn.office.net/evergreen-assets/safelinks/1/atp-safelinks.html

A managed fund is a type of investment where your money is pooled together into a larger investment fund with other investors. A fund manager with expertise in investing then manages that money and decides what assets to buy and sell on your behalf. Learn this and more as Jess learns how to get started in a managed fund. This episode features Sorted.org.nz’s Personal Finance Lead, Tom Hartmann.Join Jess, a 27-year-old newbie in the world of investing, as she navigates the ups and downs of becoming an investor. Just like you, she's learning the ropes. Each month, Jess will team up with a different expert who will share invaluable insights and tips about investing.  At the FMA, we believe in empowering New Zealanders with the knowledge to make Informed financial decisions.

In this special episode of our 5 mins with the FMA podcast, we take a look at outcomes- focused regulation with Liam Mason, FMA Executive Director of Evaluation and Oversight and General Counsel. Today we’re releasing a document that provides you with an update on our approach to Outcomes-Focused Regulation. An outcomes-focused approach means we focus on the end results that regulation is aiming to achieve for New Zealand businesses, investors, consumers and financial markets. Focusing on these things ensures our regulatory efforts are proportionate and impactful, rather than getting bogged down by minor compliance matters.While this has already been our approach to some sectors over the past year, in 2025 we will step up this approach in a way where you should see a tangible difference.To get the best outcomes for our markets and New Zealanders the FMA will work collaboratively with industry. We’re committed to ongoing engagement with firms and industry groups to support good practices and reduce the risk of poor outcomes for New Zealanders. 

As we approach International Women’s Day, we’re thrilled to bring you the second episode of our Jess Learns to Invest podcast series. In this episode, Jess sits down with financial Journalist and educator Frances Cook to discuss how women often approach investing differently. They chat about the opportunities women can embrace, and how women are increasingly shaping the future of investing. “Women may be less likely to invest, but when we do invest, were better at it” – France Cook.  

Are you ready to kickstart your investing journey in 2025? Dive into our new podcast series.  Join Jess, a 27-year-old newbie in the world of investing, as she navigates the ups and downs of becoming an investor. Just like you, she's learning the ropes. Each month, Jess will team up with a different expert who will share invaluable insights and tips about investing. At the FMA, we believe in empowering New Zealanders with the knowledge to make Informed financial decisions.Episode 1 features guest speaker Simran Kaur the founder of Girls That Invest, a media company that is on a mission to empower women to take charge of their finances. Girls that Invest has become one of the most popular investing podcasts, particularly for women. Sim talks about her journey and the practical tips she has for anyone looking to start investing. Jess and Sim discuss the basics of investing and how to get started.

Jess and Stuart are back for episode 4 of our Navigating KiwiSaver series. Last week they discussed contributions, this week Stuart explains KiwiSaver fees, he also touches on active and passive investments. The fee is calculated as a percentage of the net asset value of each fund, and is already deducted from your investment, so returns will be reduced.Actively managed funds are where investment managers make active decisions on what investments to buy or sell in your KiwiSaver. On the other hand, passive investments copy what the market is doing by tracking and buying the index.This podcast has been prepared by the FMA. The advice is of a general nature, and is not intended to be financial advice and FMA does not accept responsibility for any loss that any a person may suffer from following it. The FMA recommends that our audience seek their own financial advice in respect of investing in KiwiSaver. Anyone considering investing in KiwiSaver or making changes to their investment in KiwiSaver should seek advice from a financial adviser.

Did you know there are five contribution rates when it comes to your KiwiSaver — 3%, 4%, 6%, 8% or 10?  Along with your personal contributions, your employer contributes to your KiwiSaver as well as the Government.Episode 3 of our Navigating KiwiSaver series is out now! This week Stuart explains to Jess the importance of contribution rates and why a yearly review could be beneficial.This podcast has been prepared by the FMA. The advice is of a general nature, and is not intended to be financial advice and FMA does not accept responsibility for any loss that any a person may suffer from following it. The FMA recommends that our audience seek their own financial advice in respect of investing in KiwiSaver. Anyone considering investing in KiwiSaver or making changes to their investment in KiwiSaver should seek advice from a financial adviser.

In this episode, Jess asks Stuart to break down the different types of KiwiSaver funds.Funds are grouped by how much of the riskier investments they hold, like shares and property (also known as "growth assets"). Whether you're looking to dial your risk up or down, it's important to pick the right fund that aligns with your savings goals. Stuart also shares where to find out exactly which KiwiSaver fund you’re in — because knowing your current fund is the first step to making sure it’s working for you.This podcast has been prepared by the FMA. The advice is of a general nature, and is not intended to be financial advice and FMA does not accept responsibility for any loss that any a person may suffer from following it. The FMA recommends that our audience seek their own financial advice in respect of investing in KiwiSaver. Anyone considering investing in KiwiSaver or making changes to their investment in KiwiSaver should seek advice from a financial adviser.

Want to learn more about KiwiSaver? This is episode 1 of our new navigating KiwiSaver series.This first episode is a KiwiSaver 101, you will learn what KiwiSaver is and how it works. Jess asks Chief Economist Stuart Johnson how much she should be contributing and when to review her contributions.This podcast has been prepared by the FMA. The advice is of a general nature, and is not intended to be financial advice and FMA does not accept responsibility for any loss that any a person may suffer from following it. The FMA recommends that our audience seek their own financial advice in respect of investing in KiwiSaver.

The FMA has just published its latest piece of research from the economics team, looking at Commercial Real Estate and the Managed Funds Industry.   We’re joined by FMA chief economist Stuart Johnson to tell us more. 

KiwiSaver has just reached a huge milestone! According to our latest KiwiSaver Annual Report, the KiwiSaver funds under management have soared to $111.8 billion as of March 31, 2024, marking a 19.3% jump from last year’s $93.6 billion. This is a big win for New Zealanders who rely on KiwiSaver for their retirement savings. The growth this year came from a mix of $13.1 billion in investment returns and $11.2 billion in contributions from members, employers, and the Crown. Read the 2024 KiwiSaver Annual Report here: https://loom.ly/9lXTogQ 

In the first episode of our new podcast series ‘Occasional Conversations,’ Chief Economist, Stuart Johnson and Senior Adviser, Sophia Scragg discuss a new piece of research around fairness in financial services.Overall, this research has shown that when presented with specific customer focused scenarios, consumers have a remarkably consistent understanding of what constitutes fairness in financial services. 

In the second episode of our new podcast series ‘Occasional Conversations,’ Chief Economist, Stuart Johnson discusses a new piece of research around AI in financial services.To download the research paper in full head over to www.fma.govt.nz.  

In this special episode of our 5 mins with the FMA podcast, we take a look at outcomes- focused regulation with Liam Mason, FMA Executive Director of Evaluation and Oversight and General Counsel. The FMA is moving towards an outcomes-focused approach to regulation and part of this change is setting out ideas around fair outcomes for consumers and markets. Our new guide: "Fair outcomes for consumers and markets" introduces outcomes-focused regulation and what it means for engagement with industry. It's open for consultation now and describes seven fair outcomes for consumers and markets we consider providers should be working towards. We are seeking feedback and invite submissions via our website:https://www.fma.govt.nz/news/all-releases/media-releases/fma-opens-consultation-on-fair-outcomes-for-consumers-and-markets/ Read more:  Download the proposed fair outcomes for consumers and markets consultation, PDF View the consultation page with all relevant documents  

In this episode, to mark World Investor Week, we take a look at ethical investing, with Paul Gregory, Executive Director, Response & Enforcement at the FMA. We talk with Paul about the challenges facing investors looking for ethical investments and the role of a regulator in making sure fund managers really are doing what they promise. We also explore the main things that investors should think about when looking at ethical investments.  How do investors go about making these decisions – and is “greenwashing” is getting better or worse? Read more: Ethical InvestingDisclosure framework for integrated financial productsIntegrated financial products: Review of managed fund documentation  Ethical investing journey research  

In this episode, we look at the latest KiwiSaver Annual Report, with John Horner, Director of Markets, Investors and Reporting at the FMA.The FMA’s latest KiwiSaver Annual Report shows that KiwiSaver has held firm through a continuing period of market volatility. Total funds in KiwiSaver have grown again this year, by $4 billion, due to contributions of $10.5bn from members, employers, and government.This growth in total KiwiSaver funds is despite $1.9bn in investment losses at the March year end, the fourth time total investment returns have gone backwards in the scheme’s 16-year history. This points to the importance of ongoing contributions from investors, employers and the Government in building long-term retirement savings.We talk with John about what’s happening with KiwiSaver fees, withdrawals by over 65s and what impact volatile world markets have had on KiwiSaver investor behaviour.You can read the latest KiwiSaver report here.More on KiwiSaver here.Checking your KiwiSaver statement – Own your tomorrowTo find out more about the different types of KiwiSaver funds, see our Spotlight on Funds series:KiwiSaver Default FundsSpotlight on Balanced FundsSpotlight on Conservative FundsSpotlight on Growth Funds

Today we’re looking at scams – particularly those investment scams that have led to Kiwis losing a lot of money – we’re talking retirement savings, house deposits and hard-earned savings being stolen by overseas criminals.  We’re speaking to Sam McGuire, the FMA’s Regulatory Services manager. She sees a lot of the scam complaints that come in and she’s got some good advice for keeping safe.   Check out the FMA’s Warning and Alerts page here: https://www.fma.govt.nz/library/warnings-and-alerts/   Sign up for regular updates on scams, warnings and alerts here:  https://www.fma.govt.nz/subscribe-to-fma-news-and-alerts/   And the FMA’s main scams page here: https://www.fma.govt.nz/scams/  

Today we discuss the licensing of Financial Advice Providers (FAPs) with the FMA’s Michael Hewes.   From March 17, 2023 all financial advice providers (FAPs) must hold or operate under a full licence from the FMA if they want to provide regulated financial advice to retail clients.  With full licensing now in effect, this will continue to give Kiwis greater confidence in consistent standards across the financial advice industry. The value of quality financial advice is particularly relevant in the current environment, when many New Zealanders are navigating challenging financial decisions.  This follows a two-year transition period, since 15 March 2021, during which they were allowed to operate under a transitional licence. Featuring FMA Director of Deposit Taking, Insurance and Advice, Michael Hewes. See: https://www.fma.govt.nz/business/services/financial-advice-provider/  Financial advice regulatory regime - now in full effect  https://www.fma.govt.nz/news/all-releases/media-releases/financial-advice-regulatory-regime-now-in-full-effect/  Sign up for the monthly FMA Update on the FMA subscription checklist: https://www.fma.govt.nz/subscribe-to-fma-news-and-alerts/  

Today we discuss New Zealand’s new climate-related disclosures regime with the FMA’s Jenika Phipps. Organisations covered (known as Climate Reporting Entities or CREs) will soon have to make annual disclosures covering governance arrangements, risk management, strategies and metrics and targets for mitigating and adapting to climate change impacts.  This applies to the larger publicly listed companies, big insurers, banks, non-bank deposit takers and investment managers. The FMA is responsible for independent monitoring and enforcement of the regime, providing guidance about compliance expectations, and reporting on monitoring activities and findings. We talk about who is covered by the regime, what’s happening around the world and what business should start thinking about as the new rules come into force this year.  Featuring FMA Manager of climate-related disclosures Jenika Phipps.  See: https://www.fma.govt.nz/business/focus-areas/ethical-finance/climate-related-disclosures/  Report: Climate-related disclosures: Initial monitoring approach for record keeping https://www.fma.govt.nz/assets/Information-sheets/Climate-related-disclosure-Record-keeping-initial-monitoring-approach.pdf  Sign up for climate-related disclosure news and updates by selecting Climate Reporting Entity (CRE) information on the FMA subscription checklist: https://www.fma.govt.nz/subscribe-to-fma-news-and-alerts/  

FMA Director of Capital Markets Paul Gregory discusses the FMA’s recently-published review of the wholesale property investment sector, which led to the FMA issuing formal warnings to several entities.He explains why the FMA conducted the review and what the major findings were, particularly in relation to some firms using deficient eligible investor certificates. Mr Gregory says the report and warnings have put the industry on notice and the FMA has reinforced its expectations about what firms need to be doing to comply.See:Media release: FMA formally warns wholesale property investment firms after discovering non-compliant practicesReport: Thematic review of use of the wholesale investor exclusion

FMA Director of Investment Management Paul Gregory talks about the FMA’s latest KiwiSaver Annual Report, for the 2021-22 financial year. The report includes figures and trends found in KiwiSaver providers’ consolidated data, and summaries of the FMA’s key activities and ongoing focus areas.Here we talk about the key stats, including the early impact of lower fee settings for default members, another jump in members in “socially responsible” funds, and liquidity risk management.

FMA Director of Banking and Insurance Conduct Clare Bolingford discusses the incoming Conduct of Financial Institutions (CoFI) regime, which will require New Zealand's retail banks, insurers and non-bank deposit takers to treat customers fairly at all stages of the relationship.Here she outlines the key changes CoFI will bring about, what treating customers ‘fairly’ means in practice, and what firms can do now to prepare before CoFI comes into effect in 2025.

FMA Director of Supervision James Greig discusses the FMA’s new message to financial service providers to ensure their cyber defences are robust, in an age of increasingly sophisticated and successful cyber attacks. Here he explains why the regulator issued the “Cyber Security & Operational Systems Resilience” information sheet in June 2022, which includes details around standard FMC Act licence conditions, threat monitoring, staff training, board obligations, customer remediation and post incident reporting.