In this task, you are required to demonstrate your understanding of the background to the current regulatory environment for financial services in New Zealand. In approximately 500 words in the Answer Box below, describe the background that has led to the New Zealand regulatory environment. In your answer, you will need to include reference to the relevance of at least: one local agency one international agency one local event one international event. The current regulatory environment includes the following legislation: Financial Advisers Act 2008* Financial Advisers (Disclosure) Regulations 2010 Financial Markets Authority Act 2011 Financial Markets Conduct Act 2013 Financial Service Providers (Registration and Dispute Resolution) Act 2008 Anti-Money Laundering and Countering Financing of Terrorism Act 2009 * While the Financial Advisers Act will be/has been replaced by the Financial Services legislation Amendment Act, the Act still remains relevant as a consequence of the events leading to the overhaul of the financial services regulatory framework