Some types of financial products, including KiwiSaver schemes, specified managed funds and superannuation schemes, must appoint an independent licensed Supervisor to look after investors’ interests.
In December 2022, we completed our third licensing process for these Supervisors. All five applicants were re-licensed for a further five years, after demonstrating they are capable of continuing to effectively perform the functions of a Supervisor and meeting the licence conditions on an ongoing basis.
We consider that continuous improvements are required, to ensure that supervisory activities remain fit for purpose in an evolving and complex sector. This report highlights areas identified by the re-licensing process where improvements could be made.
