The FMA’s consultation period on its approach to outcomes focused regulation closes in March.
The regulator says a focus on outcomes means it will be prioritising the end results it wants to see for consumers and markets, and says rules and tick box compliance are not an end in themselves.
Since the Guide to the FMA’s view of conduct was published in 2017, the regulator has expected firms to deliver fair outcomes.
The areas the FMA is consulting on are:
- Consumers have access to appropriate products and services that meet their needs
- Consumers receive useful information that aids good decisions
- Consumers receive fair value for money
- Consumers can trust providers to act in their interests
- Consumers receive quality ongoing care
- Markets are trusted based on their integrity and transparency
- Markets enable sustainable innovation and growth
Consultation closes 1 March 2024, click here for more details.