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Meet Alex, an adviser in our deposit-taking team, where they monitor banks and credit unions, building societies and some finance companies. Alex and his team help ensure these companies treat you fairly, especially with new legislation that protects you when you deal with these companies for things like loans, savings accounts, KiwiSaver and insurance. Alex and his team also work closely with our insurance team to make sure insurance companies are doing the right thing. At the Financial Markets Authority (FMA), we make sure New Zealand's financial markets are fair, efficient, and transparent, so all New Zealanders can trust and feel confident in them. #FMA #Financialregulator #Financialinstitutions

If you’re getting financial advice, whether it’s about investing, KiwiSaver, insurances, mortgages or personal financial planning there are certain basics of what you can expect. Any personal recommendations you get should be in writing and match up with your goals. It is an adviser’s job to help you understand so you can make the best choice for your situation. All advisers providing retail advice must follow the Code of Professional Conduct for Financial Advice Services. The code says an adviser must: Treat clients fairly. Act with integrity. Have competence, knowledge, and skill, and Give suitable advice, and ensure it’s understood properly. Find out more here: https://www.fma.govt.nz/consumer/getting-advice/working-with-a-financial-adviser/ and https://financialadvicecode.govt.nz/#Financial%20advice%20code%20website #workingwithafinancialadviser #financialadvice #fma #whattoexpect

The 31st of March is fast approaching, and we want to remind registered banks, licensed non-bank deposit takers and licensed insurers what they need to have sorted for their Financial Institution License. All financial institutions need to display some summary information about their fair conduct programme on their website from the 31st of March 2025. Publishing this information will help your customers understand how their chosen provider should be treating them. New Zealanders should have access to the financial products and services they need, when they need them.

Meet Nikhil from our Perimeter and Response team. The role of our Perimeter and Response team is to evaluate how businesses and individuals in the financial sector behave. They identify risks of harm to customers like you and determine the most appropriate way forward. Regulatory responses include feedback letters and referrals to our investigation and enforcement teams. Nikhil and his team work to deliver fair outcomes for all New Zealanders. #FMA #FMApeople #Perimeterandresponse #financialmarkets

Rawiri thought his car was insured for $19K. After flood damage, his insurer offered just $14K without clearly notifying him of a 24% drop in agreed value. He turned to the Insurance & Financial Services Ombudsman Scheme, a Dispute Resolution Scheme. They found the insurer hadn’t properly highlighted the change. Lesson: contacting your insurer’s Dispute Resolution Scheme can help you resolve issues. #InsuranceMatters #FairOutcomes #DRS #DisputeResolution #NZFloods