- The Financial Markets Authority (FMA) may cut more than 20 jobs to save costs.
- The FMA’s standing has declined, with scepticism about its effectiveness growing.
- Internal debates focus on whether to prioritise prosecuting financial offenders or broader policy issues.
By Gyles Beckford of RNZ
The country’s leading financial market regulator is facing job cuts which may weaken its ability to protect investors.
RNZ has been told a proposal put to staff on Wednesday has floated more than 20 jobs may be axed from the Financial Markets Authority (FMA) as it looks to save costs.
The authority’s standing in financial markets has slumped in the past year, with its own survey showing growing scepticism about its ability to do its job or even connect with markets about what matters the most.