FSC Consultations 2024
The FSC submits regular industry feedback as the voice of the financial services industry to drive outcomes to grow the financial confidence and wellbeing of New Zealanders.
This page covers the consultations, discussion documents or Bills before Parliament that the FSC intends to submit on, or are open for noting.
Please click on the current consultations for more details on the FSC Submission Process and how FSC members can get involved. These pages are accessible to FSC members only, which include all staff at FSC member organisations. Please click here to sign up to the Member's Area.
Please refer to the 'Completed submissions and outcomes' section below for status updates and FSC Debriefs (accessible to FSC members only) detailing the outcomes of FSC activities in the submissions space.
Current consultations
- 28 January 2025: | FMA: Proposed class exemption, CRD Assurance of Scope 3 GHG emissions disclosures
- 14 February 2025: | MBIE: Enabling KiwiSaver investment in private assets
- 14 February 2025: | MBIE: Adjustments to the climate-related disclosures regime
Open consultations for noting:
The following consultations are also open, for noting:
- 13 January 2025: | Ministry for Regulation: Proposed Regulatory Standards Bill
- 7 February 2025: | MBIE: Promoting competition in New Zealand - A targeted review of the Commerce Act 1986
- 28 February 2025: | IR: Exposure Draft - Operational Statement, cash collateral is "money lent"
2024 completed submissions and outcomes
| Date | Submission | Status |
| 1. 9 February 2024 | GST and Managed Funds Proposed Arrangement Description | See 11 November 2024 consultation |
| 2. 1 March 2024 | FMA: Proposed fair outcomes for consumers and markets | Awaiting possible final guidance |
| 3. 22 March 2024 | IR: Qualifying registered overseas pension schemes (QROPS) tax proposals | See 9 October Taxation Bill |
| 4. 2 April 2024 | IR: Portfolio Investment Entity (PIE) Eligibility requirements | See 9 October Taxation Bill |
| 5. 14 May 2024 | FMA: Renewal of class exemption for restricted schemes from custodian assurance requirements | 2024 Notice available here |
| 6. 3 June 2024 | Finance and Expenditure Select Committee: Contracts of Insurance Bill | See FSC Debrief here |
| 7. 14 June 2024 | Justice Select Committee: Privacy Bill | Awaiting final Act |
| 8. 19 June 2024 | Ministry of Business, Innovation & Employment: Financial services conduct regulation | Bill expected February 2025 |
| 9. 30 August 2024 | FMA: Proposed Guidance on References to Climate Statements in Disclosure Documents | Guidance not progressing |
| 10. 5 September 2024 | Law Commission: Review of the protections in the Human Rights Act 1993 for people who are transgender, people who are non-binary and people with innate variations of sex characteristics | Awaiting possible amendments to the Human Rights Act |
| 11. 5 September 2024 | Economic Development, Science and Innovation Select Committee: Customer and Product Data Bill | Select Committee Report due 23 January 2025 |
| 12. 17 September 2024 | RBNZ: Exposure Draft of the Second Amendment of the Interim Solvency Standard | Updates from RBNZ to be provided to 13 November FSC ISS Working Group |
| 13. 19 September 2024 | Economic Development, Science and Innovation Select Committee: Regulatory Systems (Economic Development) Amendment Bill | Select Committee Report due 27 February 2025 |
| 14. 9 October 2024 | Finance and Expenditure Select Committee: Taxation (Annual Rates for 2024-25, Emergency Response, and Remedial Matters) Bill | Select Committee Report due 28 February 2025 |
| 15. 25 October 2024 | FMA: Regulatory returns for financial institution licensees | Awaiting feedback |
| 16. 30 October 2024 | XRB: Proposed 2024 Amendments to Climate and Assurance Standards | See FSC Debrief here |
| 17. 11 November 2024 | IR Tax Technical: GST treatment of fees paid in relation to managed funds | Awaiting further updates |
| 18. 28 November 2024 | Ministry of Justice: Possible changes to the probate threshold | Awaiting decision |
2023 completed submissions
Click here to view a list of the FSC's 2023 submissions.
2022 completed submissions
Click here to view a list of the FSC's 2022 submissions.