The New Zealand Financial Markets Authority has published a report summarising findings from a thematic review of how financial institutions assess their products and services to ensure they continue to meet consumers’ requirements and objectives. The review sets out good practices observed, common challenges, and areas where firms can improve. The report emphasises the role of regular, proactive product and service reviews in identifying risks early, maintaining fair treatment of consumers, and meeting obligations under the Conduct of Financial Institutions regime. It includes practical insights and examples aimed at helping institutions strengthen their review frameworks and improve consumer outcomes.
New Zealand Financial Markets Authority 2025-12-09
New Zealand Financial Markets Authority releases thematic review on financial institutions’ product and service reviews under the CoFI regime
The New Zealand Financial Markets Authority released a report from a thematic review on financial institutions' product and service assessments, highlighting good practices, common challenges, and improvement areas. The report underscores the importance of regular reviews to identify risks, ensure fair consumer treatment, and comply with the Conduct of Financial Institutions regime.