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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