New Zealand · Consumer law and remedies
New Zealand consumer-credit regulation transfers to the FMA
Responsibility for regulating the Credit Contracts and Consumer Finance Act transferred from the Commerce Commission to the Financial Markets Authority. The transfer changes the current regulator route, not the substantive answer to every credit issue.
What this means
Understand the practical effect.
Responsibility for regulating the Credit Contracts and Consumer Finance Act transferred from the Commerce Commission to the Financial Markets Authority. The transfer changes the current regulator route, not the substantive answer to every credit issue.
What to do
Turn the update into action.
Update monitoring, escalation paths, templates and links to current FMA sources while retaining dated Commission material where it remains relevant to historical conduct or proceedings.
Official source
Check the controlling material.
Practical support
Apply this update to your business.
Confirm the products, customer journeys, claims, suppliers or processes affected, then identify the evidence, ownership and timing needed for a defensible response.
Watchdog can assess the update against your circumstances and recommend the most useful next step.
Important information
Check the current position.
This update is general information, not legal advice. Laws, official guidance and proceedings can change. Check the current source and your specific facts before acting.