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New Zealand Prepares for Conduct Licensing Regime

by Starling Insights

Observations

Dec 12, 2022

New Zealand's Financial Markets Authority (FMA) has issued guidance materials and information sheets on the new Conduct of Financial Institutions (CoFI) regime. Backed by the Financial Markets (Conduct of Institutions) Amendment Bill, the new regime will require banks, insurers, and non-bank deposit takers to be licensed based on how they treat consumers. CoFI is expected to come into force in early 2025.

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Now in its 5th year, Starling's Compendium features over 60 contributors from across the industry as well as detailed analysis of the latest trends in culture & conduct risk supervision.

New Zealand to Focus on Enforcing Conduct Standards

by Starling Insights

Observations

Apr 19, 2021

The Royal Bank of New Zealand (RBNZ) — the country’s central bank — has established a new enforcement department that will work to incentivize and manage prudent behavior and to hold institutions to account for non-compliance.