FSC will engage constructively with regulators

Media Release

For Release: 24 May 2018

FSC will engage constructively with regulators

The Financial Services Council has welcomed the conduct letter from the Financial Markets Authority (FMA) and the Reserve Bank of New Zealand (RBNZ), and will engage in a transparent and constructive manner in providing the requested information.

“Like the FMA and the RBNZ we take the issues arising from the Royal Commission in Australia very seriously and are committed to working closely with them to demonstrate that consumers can have confidence in the New Zealand financial services industry”, said FSC CEO, Richard Klipin.

“The FSC board had a positive meeting with the FMA and RBNZ last week and following that we look forward to having an open conversation about conduct in the sector and the steps that we are taking to ensure that we are always acting in the best interests of consumers.

“We will provide a full and comprehensive response to the letter shortly and will engage with the regulators throughout this process.

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