Example 23

Statements of intent: Examples of reporting practice.

Securities Commission, Statement of Intent 2008-2011, page 38

Performance measures
Surveillance and enforcement
Performance standards
Achievements as estimated at 30 April 2008

Complete surveillance actions that meet the Commission’s case criteria relating to the above matters 132 87
Complete the enforcement actions that meet the Commission’s case selection criteria, relating to the above matters. 5 6
One key area (e.g. finance companies or adviser disclosure statements) is identified, investigated & reported on 1 NA – new measure in 2008/09
Complete the financial reporting surveillance programme 2 cycles in the year 2


Surveillance & enforcement resources are applied in accordance with the Commission’s market surveillance and enforcement priorities Full compliance Full compliance
The desired regulatory result is achieved in surveillance cases where deficiencies are identified 90% NA – new measure in 2008/09
Enforcement actions achieve the desired regulatory result. 80% 80%
There is no successful judicial review of the Commission’s decisions or actions. 100% 100%


Complete surveillance actions On average within 3 months On average within 3 months
Progress civil enforcement actions from investigation to the filing of proceedings. On average, within 24 months of commencement of investigation No cases taken
Complete other enforcement actions. On average, within 6 months of action commencing 1.5 months
Complete financial reporting surveillance reporting programme On average within 9 months of commencing each cycle On average within 8.7 months of commencing each cycle


Expenditure allocated to surveillance and enforcement work 38% 38%
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