Decisive enforcement, clear guidance wanted from FMA
The findings are part of a stakeholder report the FMA commissioned when it set up earlier this year.
Clear guidance, good communication and decisive enforcement top the list of what people want from the new Financial Markets Authority.
The findings are part of a management consultants' report the FMA commissioned when it set up earlier this year. CEO Sean Hughes released the findings this afternoon.
Based on over 30 interviews and 71 completed surveys with stakeholders across industry, government and other market participants, it presents a roadmap for the FMA in 2012 and beyond.
Dominant responses are; the need for strong, decisive enforcement, commercial familiarity, excellent market intelligence and analysis, plus open and timely communication with the public and other stakeholders.
“It was important to canvass market opinion at the outset on where our focus should be, what the expectations were from market participants, and to better understand the challenges ahead," Mr Hughes said.
“We inherited a sizeable historical caseload combined with the task of setting up a new organisation.
“We are now six months in and we are seeing real momentum with forward looking activity as we issue warnings, guidance notes, and seek consultation with the market on key trends. We’ll keep the momentum up through 2012, and importantly we’ll keep listening to stakeholder feedback and input on how we’re tracking.”
NBR staff
Thu, 17 Nov 2011
Thu, 17 Nov 2011
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Decisive enforcement, clear guidance wanted from FMA
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