Chapman Tripp Partner Frank McLaughlin has been appointed to the Establishment Board of the new integrated market conduct regulator, the Financial Markets Authority. The Board members were announced by Commerce Minister Simon Power today.
Mr Power announced the formation of the FMA late last month. He intends fast-tracking legislation to have it operating by early next year.
The FMA will be an independent Crown entity, which will consolidate the powers and functions of the Securities Commission, some of the functions of the Registrar of Companies and the Government Actuary, and some of the regulatory roles of NZX.
The Establishment Board will govern the operational establishment of the FMA.
Its nine members are: Simon Botherway (chairman), Shelley Cave, Andrew Harmos, Neville Harris, Frank McLaughlin, Paula Rebstock, Bruce Sheppard, Scott St John, and Mariëtte van Ryn.The Establishment Board will report to Mr Power on a regular basis.
Among other responsibilities, it will set the FMA's strategic direction, develop a statement of intent, organisational structure, and work plan to give effect to the strategic direction, and work with entities whose functions will transfer to the FMA.