The banking industry will be the first sector in New Zealand to implement a Consumer Data Right mechanism, like in Australia.
November 17, 2022BNPL providers will be required to conduct affordability checks on customers above a proposed value of NZD 600.
November 9, 2022Conduct issues in the life insurance and banking sectors resulted in over NZD 43 million and NZD 109 million in customer remediation, respectively.
October 8, 2022Two consultations have been issued, including an exposure draft on regulations defining prohibited volume-based sales incentives.
October 1, 2022This is the second tranche of changes to the CCCFA regulations, which have been criticised for making it too difficult for borrowers to obtain loans.
August 9, 2022Banks, insurers and non-bank deposit takers will be required to obtain a conduct licence from the FMA, on top of their prudential licences from the RBNZ.
July 1, 2022A new bill will require companies to provide accurate beneficial ownership information. A unique identifier will be assigned to all beneficial owners and directors.
March 24, 2022The government has asked the Council of Financial Regulators to bring forward an investigation into whether lenders are implementing the new lending rules as intended.
January 21, 2022Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.
October 25, 2021The government will look to align New Zealand's CDR system with the Australian model, rolling it out on a sector-by-sector basis.
July 12, 2021