Page 17 - Rob Everett News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MR No. 2021 – 19 New laws to regulate and supervise payment and settlement systems have been passed by Parliament following the third reading of the Financial Market Infrastructures Bill (the Bill) yesterday. FMIs are critical systems that support day-to-day payments and financial transactions in the economy. They include electronic payment systems, and systems to settle trades in a range of financial products, such as equities and bonds. These systems are mostly used by banks and other financial institutions, but payment systems are also used by individuals, retailers, and other businesses...

After a turbulent start, the regulator has been adept at avoiding conflict. It’s quiet, perhaps too quiet. The last time the country’s most important financial regulator had a leadership change there was scandal and intrigue galore. This time … crickets. When the time comes for the Financial Markets Authority board to select a replacement for outgoing chief executive Rob Everett, some reflection on the contrasting atmospheres would be in order. Looking back, the events surrounding the departure of previous CEO Sean Hughes are so extraordinary as to be scarcely believable. Hughes, the ...

Tuesday, 16 March 2021, 10:44 am The Financial Markets Authority (FMA) Board today announced that Chief Executive Rob Everett had resigned and would leave the organisation towards the end of the year. FMA Chair Mark Todd said Mr Everett has done an outstanding job as the FMA’s second Chief Executive, overseeing the implementation of the Financial Markets Conduct Act as well as helping to lead a national discussion around the need for conduct regulation in financial services. “Rob has been, and will continue to be, a truly outstanding leader of the FMA, who will leave a lasting legacy. He ...

Major banks and insurers now report regularly to the FMA and the Reserve Bank on how they are treating their customers, and the reviews led to the creation of the Financial Markets (Conduct of Institutions) Amendment Bill, which will require banks and insurers to treat customers fairly if they wish to keep their licences to do business. Under Everett, the FMA concluded cases against finance company directors whose companies had failed and wiped out the savings of many older investors. The FMA also cracked down on overseas companies using the Financial Service Providers Register to pretend...

Departing boss 'an outstanding leader' says FMA chair.