Bridging the Bayly gap: The unfinished financial services reforms

Andrew Bayly kicked a lot of things into motion during an energetic 13-month spree as a minister. (Image: NZME)

Wed, 26 Feb 2025

Andrew Bayly leaves a long list of unfinished business after tapping out as Minister of Commerce last week.The now-ex-minister began his tenure more than a year ago with a whirlwind of financial services sector reforms, although, thankfully not including some of the whackier ones bandied about on the 2023 campaign trail, such as KiwiSaver withdrawals for rental bonds.Once in office, Bayly also backed away from an election promise to trash the Conduct of Financial Institution legislation – or Cofi – that was birthed by the forme...

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