01906cas a2200241 a 4500 AALejournalIMF017639 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475599855 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. New Zealand : Financial Sector Assessment Program: Technical Note-Fund Management-Regulation, Supervision, and Systemic Risk Monitoring. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (36 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Technical Note presents an assessment of Regulation, Supervision and Systemic Risk Monitoring in New Zealand. The overall regulatory framework for asset management is well developed, but would benefit from some enhancements to prevent the buildup of risks. The provision of custody services does not require a license in New Zealand, and custodians therefore fall outside the direct supervision of the Financial Markets Authority (FMA). They are neither subject to prudential requirements nor to ongoing supervision by any other authority. Given that custodians perform key functions regarding safeguarding investors' assets, the government should require that these entities be licensed and subject to ongoing supervision by the FMA. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2017/117 Full text available on IMF http://elibrary.imf.org/view/journals/002/2017/117/002.2017.issue-117-en.xml IMF e-Library