James Miller Appointed Chair of New Zealand's Financial Markets Authority

Willis said Miller has spent more than a decade advocating for stronger capital markets in New Zealand and brings extensive experience from senior leadership positions.

James Miller has been appointed as the new chair of New Zealand's Financial Markets Authority (FMA), taking on the role as the Government pushes ahead with reforms aimed at strengthening the country's capital markets and boosting economic growth.

Finance Minister Nicola Willis and Commerce and Consumer Affairs Minister Cameron Brewer announced the appointment, describing Miller as a highly experienced leader with deep knowledge of financial regulation, corporate governance, and capital markets. Miller will serve a five-year term beginning on 6 August.

Experienced Leader Takes Charge

Willis said Miller has spent more than a decade advocating for stronger capital markets in New Zealand and brings extensive experience from senior leadership positions. He previously chaired the New Zealand Stock Exchange (NZX) and was also one of the inaugural directors of the Financial Markets Authority.

She said his background makes him well suited to lead the regulator as its responsibilities continue to expand and the Government advances reforms designed to make raising capital easier for businesses.

The Government believes stronger capital markets can help businesses secure investment locally instead of relying on overseas funding, creating more opportunities for economic growth.

Capital Market Reforms Remain a Priority

According to Willis, the Government is working to reduce the cost and complexity of raising capital while updating regulations that no longer reflect the needs of modern businesses.

Recent reforms include increasing the threshold for mandatory climate-related financial reporting, a move that removes hundreds of companies from reporting requirements that were considered unsuitable for their size and operations.

The Government says deeper and more active capital markets will strengthen KiwiSaver investments, encourage business expansion, support infrastructure development, and contribute to higher wages over time.

FMA's Role Continues to Expand

Brewer said the Financial Markets Authority now has broader responsibilities following the transfer of consumer credit regulation from the Commerce Commission, making it New Zealand's single conduct regulator for financial markets.

He said the organisation must balance strong consumer protections with a regulatory environment that allows financial markets to remain competitive and encourages investment and innovation.

Brewer also thanked Steven Bardy for serving as acting chair before Miller's appointment.

Trevor Janes Joins the FMA Board

Alongside Miller's appointment, the Government announced Trevor Janes will join the FMA board for a two-year term.

Janes previously served as the inaugural chair of NZ RegCo, the NZX's independent regulatory body, and has extensive experience in investment management, financial regulation, and governance of listed companies.

Both Miller and Janes are Officers of the New Zealand Order of Merit, recognised for their contributions to corporate governance, business, and public sector leadership.

The Government said the appointments are intended to strengthen the leadership of the Financial Markets Authority as it oversees New Zealand's evolving financial system and supports confidence among investors, businesses, and consumers.