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Financial Markets Authority adds to leadership team

The Financial Markets Authority has added to its leadership team, appointing three new staff to support chief executive Sean Hughes.

The Financial Markets Authority has added to its leadership team, appointing three new staff to support chief executive Sean Hughes.

Established in May, the FMA consolidated the functions of the now-defunct Securities Commission and Government Actuary, as well as other functions of the Ministry of Economic Development.

Hughes says the positions were filled following an extensive national and international search. He expects to announce a further four appointments in the coming weeks.

He says they bring a wealth of expertise which the FMA will draw on as it develops its role as New Zealand's first fully-fledged financial services law enforcement body overseeing the capital markets.

"I am very pleased that they have agreed to take on the many challenges that lie ahead of us as we build FMA's capabilities and its connections with the markets, government and the New Zealand public."

The new roles and appointees are:

Elaine Campbell, head of compliance monitoring

Previously head of market supervision at NZX and executive counsel of the NZ Markets Disciplinary Tribunal, she will develop and lead the commercial and infrastructure monitoring function, which will include monitoring
of trustees, qualifying financial entities, brokers, financial
services providers, auditors, superannuation and KiwiSaver schemes,
fund managers, futures dealers, clearing houses, registered markets
and secondary market activity.

 Liam Mason, head of legal and board secretary

Previously general counsel for the Securities Commission, Mason played an advisory role to the Select Committee on the new FMA legislation, and is currently seconded on a part-time basis to the Ministry of Economic Development working on securities law reform. He will provide in-house counsel and independent advice to the board on legal matters.

Sue Brown, head of primary regulatory operations

A senior lawyer with a background in financial markets, products and services in New Zealand, Australia and the
UK., Brown will develop and lead the FMA's regulatory strategies relating to the primary and retail financial markets, including financial advisers.