New Zealand's financial regulator met most 2025 goals, boosting market fairness and stakeholder trust.

The New Zealand Financial Markets Authority (FMA) reported progress in 2025 toward fair, efficient, and transparent financial markets, meeting nine of 12 strategic targets. Key achievements include launching the Conduct of Financial Institutions (CoFI) law, advancing the FinTech Sandbox, enforcing an insider trading case, and preparing new insurance and credit contract regulations. The FMA posted a lower-than-expected deficit due to higher revenue and cost control. Stakeholder confidence rose, with 74% saying FMA communications are clear—up from 63% in 2024—and 82% believing the FMA raises market conduct standards, though internal system efficiency remains a challenge. The FMA pledged ongoing improvements based on feedback.