Glossary

Authorised body

An entity named on a financial institution’s licence that can provide the licensed service without needing their own licence.

CoFI Act

Financial Markets (Conduct of Institutions) Amendment Act 2022

CoFI regime

New regime being introduced under the Financial Markets (Conduct of Institutions) Amendment Act 2022

Fees Regulations

Financial Markets Conduct (Fees) Regulations 2014

Financial institutions

Banks, insurers, and non-bank deposit takers

Financial institution licence

A licence issued by the Financial Markets Authority (FMA) that covers the service of ‘acting as a financial institution’

FMA

Financial Markets Authority

FMC Act

Financial Markets Conduct Act 2013

MBIE

Ministry of Business, Innovation and Employment

NBDT

Non-bank deposit taker

Reserve Bank

Reserve Bank of New Zealand