New Zealand's Council of Financial Regulators (CoFR) published its quarterly statement from its 2 December 2025 meeting, confirming approval of a revised operating model that shifts CoFR to a leaner, more strategic, system-focused approach. The model prioritises horizon scanning, introduces targeted taskforces, and streamlines engagement to address system-wide risks and opportunities. The meeting, chaired by Financial Markets Authority Chief Executive Samantha Barrass, also covered next steps to implement the new operating model, including the expected 2026 work programme. CoFR noted the Finance and Expenditure Committee’s report into banking competition and the Government’s response, farewelled outgoing Commerce Commission Chief Executive Adrienne Meikle, and welcomed new Heads including Reserve Bank of New Zealand Governor and CoFR co-chair Dr Anna Breman and Commerce Commission Acting Chief Executive Raj Krishnan. Christian Hawkesby’s contribution to CoFR’s work, particularly during the CoFR review, was also recognised. The next CoFR meeting is scheduled for Q1 2026, with the co-chairs to meet ahead of it to provide monitoring and oversight of emerging regulatory risks and opportunities.
Council of Financial Regulators (CoFR) 2025-12-10
New Zealand's Council of Financial Regulators approves revised operating model to adopt a leaner, system-focused approach
New Zealand's Council of Financial Regulators (CoFR) approved a revised operating model focusing on a strategic, system-wide approach with horizon scanning and targeted taskforces. The meeting also addressed the 2026 work programme, noted the Finance and Expenditure Committee’s report on banking competition, and introduced new leadership, including Reserve Bank of New Zealand Governor Dr Anna Breman.