Functions and OBJECTIVES of the NZFMA

The New Zealand Financial Markets Association (NZFMA) represents all the key industry players in the wholesale banking and financial markets.

Its key functions are:

• Coordinating the efficient operation and effective self-regulation of the over-the-counter (OTC) financial markets.
  Promoting high professional standards in the conduct of wholesale financial markets.
• Speaking for the wholesale banking and financial markets on regulatory issues that affect these markets.
  

NZFMA members perform crucial functions in the New Zealand economy, such as capital formation, efficient use of capital, management of financial risk and the integration of New Zealand with global financial markets.

NZFMA promotes the interests of our members through:

• Policy Advocacy
• Market Practices, Standards and Documentation
• Education Programs & Initiatives
• Market Data & Research
• Member Services

NZFMA Objectives

The objectives of NZFMA are to:

• Represent the common interests of its Members in dealing with issues relevant to the good reputation of the wholesale banking and financial markets in New Zealand and the regulation of these markets by the New Zealand Government and market authorities. 
• Promote and facilitate the development and maintenance in New Zealand of efficient and competitive markets for financial instruments and other related transactions.
• Encourage responsible self-regulation by establishing efficient and ethical market practices and conventions and preparing and maintaining standard documentation.
• Promote high professional standards by sponsoring education programs and awarding NZFMA Accreditation to individuals engaged in the financial markets who reach a required level of professional skill and knowledge.
• Keep Members informed of developments and issues relevant to the regulation of wholesale banking and financial markets, including legal, taxation and accounting matters.
• Consult Members on issues of common interest and effectively represent the views of Members in submissions to Government, Parliament, regulatory authorities and other institutions.
• Make public statements on behalf of Members in accordance with Association policy.
• Act as a research and information centre by collecting and disseminating data that will support the development of the financial markets and assist Members in conducting their business.
• Maintain and promote the wholesale banking and financial markets as essential elements of the New Zealand financial system and New Zealand’s capital markets.
• Promote the export of financial services from New Zealand to regional and global markets.