MMS #21 | Are my investments safe?! Understanding regs in the finance industry
Description
Colin Magee from Catalist is back, baby! Last time he demystified stock exchanges with Liv, and in this episode of Money Made Simple he helps explains financial regulations to Jennie... Don't worry, it's more interesting than you may imagine! As an ex-lawyer and previous FMA exec, Colin is a fountain of knowledge on the topic and is here to explain the basics so you can feel confident in your investment decisions.
This week's episode covers:
- The difference between licensed and regulated providers (and why it matters)
- The different rules and regulations covering banks, stock exchanges, managed fund providers, and individual financial advisors
- How and why there's actually a double layer of regulation on your KiwiSaver savings
- Watch-outs when seeking financial advice (understand who's paying them!)
- Key things to look for in working out whether an investment opportunity is "safe"
Resources we mention in this episode:
Sorted.org (the ol' fave for all things financial know-how!)
Colin's great blog on the benefits of a licensed stock exchange
The FMA website's range of regulatory resources
By the end of this episode, our aim is to help you understand that while ALL investing carries risk, comprehensive rules and regulations out there in NZ are in place to avoid what we could call "bad risk" - and let you get on with the business of making the right decisions for you!
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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.