A new council of key financial market regulators has met for the first time to share information in the hope of preventing further fall-out in the industry.
The Council of Financial Regulators has two permanent members, the Reserve Bank and Financial Markets Authority (FMA).
Associate members include the Treasury and Ministry of Economic Development.
FMA chief executive Sean Hughes says the council will collect information from the market about risks and share information on entities they jointly regulate.
He says it also plans to come up with ideas on how to improve regulatory effectiveness and anticipate future shocks to the economy.
Mr Hughes says the council will publish position papers or guidance to assist entities to understand their obligations and be aware of particular risks.
The Council of Financial Regulators will meet quarterly. Its next meeting is scheduled before the end of the year.
FMA chief executive Sean Hughes told business reporter Amy Williams on Checkpoint the regulators need to work together at a higher level.
