Simon Allen Reappointed Chair Of New Zealand's Financial Markets Authority

Commerce Minister Craig Foss has welcomed the reappointment of Simon Allen as Chair of the Financial Markets Authority (FMA).

“I am delighted Mr Allen has been reappointed. He has been very successful in guiding the FMA through its initial period of operation since 1 May 2011.

“Over this time, the FMA has gained credibility from the public and the industry and has delivered on its role of rebuilding confidence in our financial markets following the global financial crisis.

“Mr Allen is highly-regarded across both Government and the industry.  With more than 25 years’ experience in financial markets management and senior governance roles, he has the right credentials to ensure that the FMA continues to be an effective financial sector regulator,” says Mr Foss.

Mr Allen has been reappointed for an eighteen-month term, commencing 1 May 2013.

Further information on the Financial Markets Authority can be located at:http://www.fma.govt.nz/

Background

Simon Allen is the current Chair of Crown Fibre Holdings Limited and Auckland Council Investments Limited.  He is Deputy Chair of St Cuthbert’s College in Auckland and director of Snowvision Charitable Trust.  Previously, he was also the Chair of NZX Limited from 2001 to 2008.

The FMA is an independent Crown entity established under the Financial Markets Authority Act 2011. It enforces securities, financial reporting, and company law as they apply to financial services and securities markets.  It is the primary regulator for securities exchanges, financial advisers and brokers, and trustees and issuers – including issuers of KiwiSaver and superannuation schemes.  The FMA’s main objective is to promote and facilitate the development of fair, efficient and transparent financial markets.