New Zealand: Financial Sector Assessment Program: Technical Note-Fund Management-Regulation, Supervision, and Systemic Risk Monitoring

May 10, 2017

Preview Citation

Format: Chicago

New Zealand: Financial Sector Assessment Program: Technical Note-Fund Management-Regulation, Supervision, and Systemic Risk Monitoring, (USA: International Monetary Fund, 2017) accessed September 24, 2024

Summary

This Technical Note presents an assessment of Regulation, Supervision and Systemic Risk Monitoring in New Zealand. The overall regulatory framework for asset management is well developed, but would benefit from some enhancements to prevent the buildup of risks. The provision of custody services does not require a license in New Zealand, and custodians therefore fall outside the direct supervision of the Financial Markets Authority (FMA). They are neither subject to prudential requirements nor to ongoing supervision by any other authority. Given that custodians perform key functions regarding safeguarding investors’ assets, the government should require that these entities be licensed and subject to ongoing supervision by the FMA.

Subject: Asset and liability management, Asset management, Asset valuation, Financial regulation and supervision, Financial services, Liquidity risk

Keywords: Asia and Pacific, Asset management, Asset valuation, Business models, CR, FMA staff, FMC Act, Global, Governing document, Investment strategy, ISCR, License application, Liquidity risk, MIS assets, MIS manager, MIS offer documents

Publication Details

Pages:

36
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/117
Stock No:

1NZLEA2017005
ISBN:

9781475599855
ISSN:

1934-7685

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