Monitoring the Commerce Commission
The Minister of Commerce and Consumer Affairs is the minister responsible for the Commerce Commission, and appointed us as its monitoring agent.
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annual report
Open banking
The Customer and Product Data (Designations for Banking and Other Deposit Taking) Regulations designate the banking sector under the Customer and Product Data Act. The regulations enable and accelerate ‘open banking’, which is a system that enables banks’ customers to share their banking information with trusted third parties, such as fintechs. It also enables accredited persons to initiate payments on behalf of customers, if they have the customer’s authorisation.
Retail payment system
We are working to ensure that the retail payment system operates in the interests of New Zealand consumers and businesses.
Market study into retail fuel
In February 2020, the Government announced its decision to introduce changes to improve competition in the retail fuel market. These changes have been implemented.