We monitor the Financial Markets Authority and Te Ara Ahunga Ora Retirement Commission

We are completing work that may result in changes in New Zealand in response to various international financial market reforms.

On 17 June 2019 Cabinet agreed on the licensing fees and changes to the FMA levy.

MBIE and the FMA are consulting on proposed changes to the FMA’s funding and the FMA levy.

On 7 August 2019 the Minister of Finance and the Minister of Commerce and Consumer Affairs released a discussion paper that sought feedback on proposed changes to KiwiSaver default provider arrangements. The consultation closed on 18 September 2019.

The majority of New Zealanders are able to withdraw their KiwiSaver savings at the time they qualify for NZ Superannuation (65 years old). The Government has made it easier for people born with a condition that shortens their life expectancy below this age to withdraw their KiwiSaver balances.

On 17 June 2019 Cabinet made policy decisions on regulations to support measures to address the misuse of the Financial Service Providers Register.

The Financial Services Legislation Amendment Act introduces a new regulatory regime for financial advice.

On Friday 14 May 2021, the Minister of Finance and the Minister of Commerce and Consumer Affairs announced the six KiwiSaver providers who will offer default fund services from 1 December 2021.

We are responsible for administering certain aspects of the KiwiSaver Act 2006.