FMA welcomes funding discussion

The Financial Markets Authority (FMA) has welcomed the release of a Government discussion document on third party funding options for financial regulation.

FMA chief executive Sean Hughes said with budgets now established, the discussion document provides an important opportunity for all market participants to contribute their views on the best options for collection of levies to fund the FMA's broadened scope and responsibilities.

"FMA has a responsibility to use the resources we've been provided with in the most effective manner. We encourage submitters to consider the best model for delivering improved confidence in investment markets," he said.

The FMA said it will provide input to Government on the proposal and encouraging all stakeholders to respond.

"Clearly though the policies for third party funding and the model to be adopted is ultimately a matter for the Government to decide, after consideration of the issues raised by submitters."

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