BUDGET: No additional funding for FSLAA implementation
It is allocated $36 million for operating costs and another $2 million for its litigation fund and this is unchanged from last year.
“The single overarching purpose of this ($36 mill) appropriation is to support well-functioning financial markets through the activities of the Financial Markets Authority,” Budget documents say.
Of this $36 million, $16.07 million is earmarked for “Performance of Licensing and Compliance Monitoring Functions”.
This category is limited to statutory functions relating to licensing of market participants and risk-based monitoring of compliance, including with disclosure requirements under financial markets legislation.
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