Single set of expectations from new CCCFA regulator

It is now the single conduct regulator for financial markets in New Zealand, avoiding duplication between regulators and compliance costs.

For the mortgage market it couldn’t come soon enough. Lenders already certified by the Commerce Commission, or exempt from certification, are automatically deemed to hold an FMA licence, with no application or fee required.

They also no longer need to submit an annual return as this has been repealed. While the FMA might require one in the future it will consult with the industry beforehand.

The FMA says its approach to the CCCFA is proactive, risk‑based, and focused on fair conduct. Supervision tools include roundtables, guidance, webinars, thematic reviews, and on‑site/desk‑based monitoring.