13 Jun 2011

Change of structure at FMA

6:03 am on 13 June 2011

The Financial Markets Authority has changed its structure to help restore investor confidence in capital markets and deter errant behaviour.

Chief executive Sean Hughes says he's set up an explicit enforcement function and will establish a unit called Strategic Intelligence, to get a better handle on what is happening in the market, and take action earlier.

He says it's a new structure which closely resembles that of a corporate model.

The heads of the seven new divisions have been advertised and Mr Hughes says ideally he would like to see half those roles filled in Auckland over time.