New Zealand's capital markets and financial services regulator. The FMA (Te Mana Tātai Hokohoko) is an independent Crown entity that is set up under the Financial Markets Authority Act 2011 (FMAA 2011) and administers a range of financial markets legislation including the FMAA 2011 and the Financial Markets Conduct Act 2013. The FMA's vision is to promote and facilitate the development of fair, efficient and transparent markets.