Today the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko takes over from the Commerce Commission as regulator for the consumer credit sector, becoming the single conduct regulator for financial markets in New Zealand.
The transfer, enabled by the Credit Contracts and Consumer Finance Amendment Act 2026, centralises financial market conduct oversight, delivering clearer rules, enhanced tools and more streamlined regulation for lenders and consumers.
Clare Bolingford, Executive Director Licensing and Conduct Supervision, says that aligning credit regulation with broader financial services creates a framework that better supports responsible lending and consumer protection.
"Consumer credit plays an important role in helping New Zealanders manage their finances and access funds when needed, from funding major purchases through to meeting everyday living costs.
"Our goal is to protect New Zealanders and ensure fair treatment across financial services. We'll be focusing our efforts on the areas where we see the greatest potential for harm."
The FMA will build on the expectations set by the Commerce Commission with an initial focus on the following areas:
- Lending practices, particularly suitability and affordability assessments
- Remunerations structures and how conflicts of interest are managed
- Complaints handling processes
"We're looking forward to working constructively together to ensure the credit sector in New Zealand is working well for everyone," says Ms Bolingford.
