FMA confirms job cuts
RNZ / Quin Tauetau
The country's leading financial market regulator has confirmed it cut 20 jobs in a recent backroom restructuring to cut costs.
RNZ business revealed the move in March and the Financial Markets Authority said the job losses have not compromised its priorities.
The FMA said it had reorganised its corporate and other support functions.
It said some staff took voluntary redundancy, and others redeployed within the FMA, but did not detail if there were forced redundancies.
It now has a staff of 350 from 370 previously.
The Authority's executive director transformation and operational delivery, Kari Jones, said the agency continued to deliver priorities in a financially sustainable way, and was ensuring its people were supported through the process.
It was not clear how much the FMA had refined its balance between rule enforcement and consumer protection on the one hand, and improving finance industry relations on the other, which were said to be a cause of tension within the organisation.
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