WELLINGTON, May 29 (Xinhua) -- New Zealand Commerce and Consumer Affairs Minister Jacqui Dean on Monday welcomed the Financial Markets Authority's survey results which saw confidence in the country's financial markets rising 9 percent in 2016.

"Investor confidence has shown a strong increase since last year. This follows significant reforms by the government of the investment regulatory landscape," Dean said in a release.

The Financial Markets Authority is a New Zealand government agency responsible for enforcing securities, financial reporting, and company law as they apply to financial services and securities markets.

The Financial Markets Conduct Act, which came fully into force on Dec. 1, 2016, aims to "create confident and informed investors and fair, efficient and transparent financial markets," Dean said.

"The Financial Markets Conduct Act requires those managing KiwiSaver and superannuation schemes to be licensed by the Financial Markets Authority and comply with new disclosure and governance requirements," she said.

Dean said that the government is committed to increasing levels of financial capability amongst New Zealanders, including providing additional funding to the Commission for Financial Capability to support its work in this area.

"Building the financial capability of New Zealanders increases investment and grows the economy," she said. Enditem

Go to Forum >>0 Comment(s)