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.
Members can withdraw their KiwiSaver savings at the time they qualify for NZ Superannuation (65 years old).
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’.
MBIE is responsible for administering certain aspects of the KiwiSaver Act 2006.
We provide policy advice on a range of issues relating to the financial markets conduct regulatory system.
MBIE is responsible for administering legislation relating to financial institution conduct in New Zealand.
The Ministry of Business, Innovation & Employment consulted on proposed changes to how financial products and services are regulated in 3 key areas: consumer credit, financial services conduct and financial dispute resolution.
This page describes the financial markets conduct regulatory system, its objectives and our qualitative assessment of it. It also lists the main statutes and changes to regulation either planned or in progress.
MBIE is responsible for administering legislation relating to the regulation of financial advice in New Zealand.
The Financial Markets Conduct Act 2013 (FMC Act) governs how financial products are offered, promoted, issued and sold, and the ongoing responsibilities of those who offer, issue, manage, supervise, deal in, and trade them. The FMC Act also regulates the provision of certain financial services (including financial advice services) and the conduct of financial institutions.
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