[Weekly Wrap] Happy birthday to the FMA

I rang around a few in the industry to see what they thought of organisation's first two years.

The reaction was fairly positive. Overall, the FMA seems to be doing okay although there are some areas where the industry would like to see some changes. Some of those I spoke to said they wanted successes celebrated and for the FMA to take more of a lead on crafting the rules practitioners operated under.

A survey mid-week that showed financial advice was rating more highly as an appealing industry to work in seems to back up the idea that regulation isn't putting new people off entering the industry.

But, as you'd expect, those that have been burnt are less fond of the regulator. The representative of investors with money in Ross Asset Management says the FMA is dragging its feet on its investigation. Six months after things went sour for RAM,  investors have been asked a series of questions about their involvement. They say it makes them wonder what the FMA has been up to during that time.