The New Zealand Financial Markets Authority published a media release stating that the third reading of the Credit Contracts and Consumer Finance Amendment Bill confirms the transfer of responsibility for the Credit Contracts and Consumer Finance Act 2003 (CCCFA) from the Commerce Commission to the FMA on 1 July 2026. From that date, entities governed by the CCCFA will be monitored and supervised by the FMA and will be subject to its regulatory tools, with lender licensing moving into the FMA framework. The bill passed its third reading on 30 May 2026 and now goes to the Governor-General for Royal assent. On 1 July, lenders currently certified under Part 5A of the CCCFA and those exempt from certification will be deemed to hold an FMA licence for their consumer credit service. The FMA and Commerce Commission are working on the transition, including the transfer of experienced credit staff and the information handover under governance and security protocols. Until 1 July 2026, lenders and consumers should continue to engage with the Commerce Commission on CCCFA matters.
New Zealand Financial Markets Authority2026-06-02
New Zealand Financial Markets Authority says consumer credit oversight will move from the Commerce Commission on 1 July 2026 after bill clears third reading
The New Zealand Financial Markets Authority announced that the Credit Contracts and Consumer Finance Amendment Bill confirms transfer of responsibility for the Credit Contracts and Consumer Finance Act 2003 from the Commerce Commission to the FMA on 1 July 2026. From that date, entities governed by the Act will be monitored and supervised by the FMA and deemed to hold an FMA licence for their consumer credit service, while the FMA and Commerce Commission manage staff and information transfer under agreed governance and security protocols.