Less Than Half of Kiwis Aware of FMA

0

Around four in ten (41%) New Zealanders are aware of the Financial Markets Authority (FMA), a recent report released by the regulator has found.

The report titled Attitudes towards New Zealand’s financial markets Investor confidence research May 2018, measured New Zealander’s attitudes towards and confidence in the country’s financial markets as well as their awareness and perceptions of the FMA and regulation.

It found that this awareness level has remained stable since 2015 and that males are significantly more likely to be aware of the FMA (54% vs 29% of females).

Of those who are aware of the FMA, 70% are confident that the financial markets are being effectively regulated.

Younger New Zealanders (aged 18 to 29 years) are less likely to be aware of the FMA (26%) aware).

The research found that those that are aware of the regulator are more likely to be investors and have a higher confidence overall in the financial markets and its effective regulation.

The report included quotes from participants on why they are or are not confident in regulation in New Zealand:

“New rules and regulations that have been imposed over the last 5 years have made for a safer environment in NZ.”

“Will be interesting to see the review of banking practices in light of the issues facing Australian banks at the moment.”

“Some people will find a way around regulations, so they’re not perfect. But, on the whole, they do help keep the market honest.”

“New Zealand has regulatory authorities that appear to be independent and working in the best interests of the country.”