RIAA welcomes the FMA providing insight into its approach to regulation and focus on demonstrating good conduct.
The 7 outcomes proposed by the FMA encourages a focus away from a culture of compliance to a focus on how all areas of an organisation function effectively to deliver the outcomes within the individual context of each business.
To further assist industry, RIAA recommends the FMA:
- explain the metrics which may be used to measure whether each of the 7 outcomes have been achieved, noting that outcomes-focused regulation does not change the laws and consequences attached to conduct;
- include references and examples relating to sustainability, in recognition of consumers’ increasing focus on investing their money responsibly; and
- ensure consumers have consistent and comparable information regarding financial products, through supporting a product labelling regime in NZ, anchored to the industry standard set by RIAA’s Responsible Investment Certification Program.
About the contributors
About the speakers
RIAA welcomes the FMA providing insight into its approach to regulation and focus on demonstrating good conduct.
The 7 outcomes proposed by the FMA encourages a focus away from a culture of compliance to a focus on how all areas of an organisation function effectively to deliver the outcomes within the individual context of each business.
To further assist industry, RIAA recommends the FMA:
- explain the metrics which may be used to measure whether each of the 7 outcomes have been achieved, noting that outcomes-focused regulation does not change the laws and consequences attached to conduct;
- include references and examples relating to sustainability, in recognition of consumers’ increasing focus on investing their money responsibly; and
- ensure consumers have consistent and comparable information regarding financial products, through supporting a product labelling regime in NZ, anchored to the industry standard set by RIAA’s Responsible Investment Certification Program.
