2024-25 financial services reforms
The Government is progressing reforms to streamline financial services.
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Administrators of financial benchmarks
On 30 August 2019 the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 received Royal assent. The Act introduces a licensing regime for administrators of financial benchmarks.
Consultation on exposure draft of regulations under the Financial Markets (Conduct of Institutions) Amendment Act 2022 – prohibition of certain sales incentives
The Ministry of Business, Innovation and Employment (MBIE) sought feedback on an exposure draft of proposed regulations under the Financial Markets (Conduct of Institutions) Amendment Act 2022 regarding the prohibition on certain sales incentives.
2024-25 Capital Markets Reforms
The Government is progressing a package of reforms to strengthen New Zealand’s Capital Markets.
Early access to KiwiSaver
Members can withdraw their KiwiSaver savings at the time they qualify for NZ Superannuation (65 years old).
Insurance contract law review
From 2018 to 2024, we held a review into New Zealand's insurance contract law to ensure it facilitates well-functioning insurance markets.
KiwiSaver default funds
People who do not choose a specific KiwiSaver fund when they start work and are not already a KiwiSaver member are automatically enrolled in a ‘default fund’.
Capital Markets Reforms
The Ministry of Business, Innovation & Employment is consulting on 2 proposals to strengthen New Zealand’s Capital Markets.
KiwiSaver
MBIE is responsible for administering certain aspects of the KiwiSaver Act 2006.
Strengthening New Zealand’s capital markets
The Government is progressing a package of reforms to help ensure our capital markets are working to support a productive economy.