FMA Director of Banking and Insurance Conduct Clare Bolingford discusses the incoming Conduct of Financial Institutions (CoFI) regime, which will require New Zealand's retail banks, insurers and non-bank deposit takers to treat customers fairly at all stages of the relationship.Here she outlines the key changes CoFI will bring about, what treating customers ‘fairly’ means in practice, and what firms can do now to prepare before CoFI comes into effect in 2025.

FMA Director of Supervision James Greig discusses the FMA’s new message to financial service providers to ensure their cyber defences are robust, in an age of increasingly sophisticated and successful cyber attacks. Here he explains why the regulator issued the “Cyber Security & Operational Systems Resilience” information sheet in June 2022, which includes details around standard FMC Act licence conditions, threat monitoring, staff training, board obligations, customer remediation and post incident reporting.