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FMA Statement of Intent for 2013

The FMA Statement of Intent (SOI) was released just a little while ago and our compliance guru, Rob Dowler, has been suggesting I write about it for a little while.

I commend it to any market participant, and at any market participant business any manager or consultant interested in how the FMA seeks to discharge its responsibilities. The SOI gives us a lot of useful information. While, obviously, focusing on intentions, in passing it provides some useful facts and figures. Here is one table which is particularly helpful when seeking to understand the market from a top-down point of view:

 

Market participants 2013

If there is one number that seems curiously vague it is the one for QFE Advisers. It is understandable that the number will fluctuate, and may not always be accurate, but I would have thought that QFEs would be required to provide a number at a point in time. Perhaps it will be available in future.  

David Chaplin feels that the number of AFAs is also interesting. It is lower than it was. He writes on what that tells us about the state of financial services in New Zealand in this piece published by The New Zealand Herald. Link: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10886680

But these are minor quibbles. This is a helpful document. You can grab your copy at the link below.

Link here: http://www.fma.govt.nz/media/1653254/statement-of-intent-2013-2016.pdf 

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