Financial Markets Authority
(FMA)Regulatory Snapshot
The Financial Markets Authority is New Zealand's financial markets conduct regulator. Established in 2011, the FMA is responsible for enforcing securities, financial reporting, and company law as they apply to financial services and securities markets. It oversees the licensing and conduct of financial service providers and derivatives issuers.
About the FMA
The Financial Markets Authority (FMA) is New Zealand's principal financial markets conduct regulator, established on 1 May 2011 under the Financial Markets Authority Act 2011. The FMA replaced the Securities Commission and assumed additional responsibilities, creating a more comprehensive regulatory framework for New Zealand's financial markets.
Regulatory Framework
Financial service providers in New Zealand must be registered on the Financial Service Providers Register (FSPR) and obtain a derivatives issuer licence from the FMA to offer leveraged trading products. The FMA oversees compliance with fair dealing provisions, client money handling requirements, and disclosure obligations, ensuring that providers meet ongoing fitness and propriety standards.
Investor Protection
All licensed financial service providers must be members of an approved dispute resolution scheme, providing consumers with access to free and independent complaint resolution. The FMA maintains a public register where consumers can verify the licensing status and disciplinary history of any registered provider.
- Financial Service Providers Register (FSPR) for public verification
- Derivatives Issuer licensing requirements
- Client money and property handling obligations
- Fair dealing conduct requirements
| Instrument | Retail | Professional |
|---|---|---|
| Major Forex | 1:200 | 1:500 |
| Minor Forex | 1:100 | 1:300 |
| Gold | 1:100 | 1:300 |
| Indices | 1:100 | 1:300 |
| Shares CFDs | 1:10 | 1:50 |
FMA does not impose ESMA-style leverage caps. Higher leverage available to all clients.
Body: Financial Dispute Resolution Service
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