UPDATE: Faafoi foreshadows conduct licensing regime for financial institutions

Wed, 25 Sep 2019

(Updates with more details from first paragraph and throughout.) By Jenny Ruth Sept. 25 (BusinessDesk) - Individuals will face fines of up to $1 million dollars and companies up to $5 million for breaches of a planned new conduct licensing regime for financial services providers. "We're sending a pretty clear message," says Commerce and Consumer Affairs Minister Kris Faafoi in announcing the new regime, which will be administered by the Financial Markets Authority. Faafoi says he hasn't had the opportunity yet to have substantive di...

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