Tag: consumer_credit
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FMA Becomes Sole Financial Market Conduct Regulator in New Zealand
The FMA has assumed responsibility for consumer credit regulation from the Commerce Commission, becoming New Zealand's single financial market conduct regulator. This centralizes oversight, aiming for clearer rules and enhanced consumer protection, with an initial focus on lending practices and…
BusinessPolitics and GovernmentEconomyFinancial MarketsLegalState GovernmentsSocial Issues Financial Markets AuthorityFMAConsumer CreditFinancial RegulationCommerce CommissionCredit Contracts and Consumer Finance Amendment Act 2026NZ Financial Markets Authority
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FMA Unveils 2026/27 Regulatory Priorities, Expands Consumer Protection
FMA outlines 2026/27 regulatory priorities, focusing on consumer credit oversight, managing conflicts, product design, and fraud. The report highlights progress in strengthening New Zealand's financial markets and embracing innovation like AI while ensuring strong consumer protection.
BusinessLaw EnforcementScience & TechnologyEconomyBankingFinancial MarketsArtificial IntelligenceLegalEducation Financial Markets AuthorityFinancial Conduct ReportRegulatory PrioritiesConsumer CreditFinancial RegulationNZ Financial Markets Authority
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FMA Prepares to Assume Consumer Credit Regulation in New Zealand
New Zealand's FMA will take over consumer credit regulation from the Commerce Commission on July 1, 2026, following a new Bill's third reading. This aims for a streamlined, coordinated approach with a new licensing regime for lenders.
BusinessPolitics and GovernmentLaw EnforcementEconomyLegalFinancial MarketsFederal GovernmentSocial Issues Financial Markets AuthorityConsumer CreditRegulatory ResponsibilityCredit Contracts and Consumer Finance ActLendingFinancial ServicesNZ Financial Markets Authority