Minister says Govt will force change

The Minister of Commerce and Consumer Affairs, Kris Faafoi, said that “soon” a bill would be introduced to Parliament to address conduct and culture issues.

“The customer needs to be at the heart of what you do.”
In a thinly veiled comment he warned: “Where it is clear parts of the industry are dragging their feet around conduct and culture we will help them to get there.”

“This is not about the journey but the destination.”

Faafoi said there had been some improvements since the Financial Markets Authority and Reserve Bank’s review of banks and life insurance companies.