Commerce and Consumer Affairs Minister Jacqui Dean today welcomed the Financial Markets Authority annual survey results which shows confidence in New Zealand’s financial markets rose nine per cent in 2016.
“Investor confidence has shown a strong increase since last year. This follows significant reforms by the Government of the investment regulatory landscape,” Ms Dean says.
“The Financial Markets Conduct Act, which came fully into force on 1 December 2016, aims to create confident and informed investors and fair, efficient and transparent financial markets.
“The Financial Markets Conduct Act requires those managing KiwiSaver and superannuation schemes to be licensed by the Financial Markets Authority and comply with new disclosure and governance requirements.
“The Government is committed to increasing levels of financial capability amongst New Zealanders. This includes by providing additional funding to the Commission for Financial Capability to support is work in this area.
“Building the financial capability of New Zealanders increases investment and grows the economy,” Ms Dean says.
For more information on the Financial Markets Conduct Act see http://www.mbie.govt.nz/info-services/business/business-law/financial-markets-conduct-act