Financial Institutions

Any registered bank, licensed insurer, or licensed non-bank deposit taker in the business of providing one or more relevant services will need to hold a financial institution licence to continue operating, if that service is received by a consumer in New Zealand.  

View our financial institution licensing page for more information

Our team has fielded a number of questions from various financial insititutions about licensing. Please take a moment to read through the licensing FAQs ahead of applying for your licence.

View the financial insitutions licensing FAQs page

A fair conduct programme (FCP) means policies, processes, systems and controls that are designed to ensure the financial institution’s compliance with the fair conduct principle. A financial institution’s FCP must be in writing and must meet the minimum requirements set out in the CoFI Act.

View our fair conduct programme page for more information

Also known as the Conduct of Financial Institutions regime (CoFI), it introduces a new regulatory regime to ensure registered banks, licensed insurers and licensed non-bank deposit takers comply with the fair conduct principle when providing relevant services to consumers. The fair conduct principle is the overarching principle of CoFI that a financial institution must treat consumers fairly. 

Read more about the legislation on the CoFI page

• 8 steps to apply for a financial institution licence 
• Standard conditions for financial institution licence 
• Licensing FAQ 
• Fair Conduct Programme (FCP)  
• Quick link to the FMA online services for licensing 
• CoFI intermediated distribution guidance
• Sales incentives and other regulations