New Zealand Financial Markets Authority has published an updated approach to Outcomes-Focused Regulation, setting out how it will focus regulatory resources on the end results that regulation is intended to deliver for consumers and financial markets. The revised approach follows consultation on the framework released in November 2023, which attracted more than 50 submissions from financial services firms, consumer groups and law firms and closed in March 2024. Changes include reframing the stated outcomes to clarify them and to better show how they link to the FMA’s main statutory objective and the purposes of its legislation, alongside an emphasis on targeting the most significant risks and opportunities while reducing unnecessary regulatory burden and giving market participants flexibility in meeting regulatory obligations.
New Zealand Financial Markets Authority 2025-03-20
New Zealand Financial Markets Authority publishes updated outcomes-focused regulation approach after consultation feedback
The New Zealand Financial Markets Authority has updated its approach to Outcomes-Focused Regulation, emphasizing the alignment of regulatory resources with intended consumer and market outcomes. The revised strategy, following extensive consultation, clarifies outcome statements and aims to target significant risks while reducing unnecessary burdens and allowing flexibility for market participants.