Commerce Minister, Simon Power made an announcement that the Government is going to create a new regulator for New Zealand's monetary markets.

He said that the Financial Markets Authority would combine functions that presently are disjointed across the Securities Commission, the Ministry of Economic Development, as well as the Government Actuary, and NZX.

He said that this move has been initiated in order to restore the confidence of investors of the financial markets.

Over the preceding year, it has become all the more clear that one of the missing pieces in the authoritarian scenery is a single supervisory body, focused on proactively monitoring and putting into force the securities law.

On numerous occasions, the money spent by investors had fallen through cracks, which the regulators forgot to keep a check on.

He said that in order to boost a sense of confidence in the investors, the FMA with its powers should devise some plans in favor of the investors.

He has committed to make sure that FMA has all the needed powers to ascertain that investors profit from their plans. He would also introduce legislation for setting up the FMA in the current year.