Regulation, competition and credit landscape to be centre stage next month

 The shift is expected to introduce a new licensing model and streamline oversight across the financial services sector – but key questions remain about timing, implementation and impact.

There are multiple, separate licences which financial services providers must have in order to operate.

The proliferation of overlapping licensing regimes by previous governments adding layer upon layer of different regulatory requirements has long been something the FSF has argued against.

The fact that a financial institution could be required to hold six different licences for what is essentially the same activity is messy, regulatory overreach, Lynn McMorran, FSF chief executive says.