FMA Plans Staff Restructure Amid Cost Challenges

The Financial Markets Authority (FMA) is undergoing a staff restructure after facing financial strain in the latter half of 2024. While the exact number of job cuts remains uncertain, RNZ reports that over 20 positions may be affected. This marks the second restructuring since 2022, following changes under then-CEO Samantha Barrass.

Public Service Association national secretary Fleur Fitzsimons expressed concern about the potential job losses, emphasizing their impact on the agency's capacity. The restructuring process is being described as a "focused consultation." The FMA's decision aligns with broader cost-cutting measures seen across regulatory bodies.

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