Watchdog now reviewing payroll records after reported issues with annual leave anniversary dates
New Zealand's Financial Markets Authority (FMA) has announced that it is reviewing its payroll records after identifying non-compliance with the Holidays Act 2003.
The financial markets watchdog, in a statement on its website, said it had identified an issue with how annual leave anniversary dates have been applied.
"Following specialist advice that our approach did not comply with the Holidays Act 2003; we have engaged an external payroll specialist to review our records and assess the impact," the FMA said on its website.
The review will cover both current and former employees, according to the FMA, which said it has yet to determine how many people may be affected and what the impact may be.
"Once it is complete, we will be able to determine whether anyone has been affected and whether any remediation is required," it said. "We are committed to understanding the issue fully and to putting things right where necessary."
The FMA said it will provide updates as the review progresses, and will contact affected staff once the review is complete.
The FMA's announcement of the review came ahead of a Stuff media report exposing the Holidays Act breaches.
According to the Stuff report, former FMA lawyer Nelson Curry identified the problem and raised the matter with the watchdog ahead of his departure from the agency earlier this year.
Curry said the watchdog was...
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