Credit regulation team switching from ComCom to FMA with new powers to investigate lenders

Credit regulation team switching from ComCom to FMA with new powers to investigate lenders
FMA’s Clare Bolingford and ComCom’s Sarah Bartlett have been a strong double act explaining new credit laws. (Image: Jacques Steenkamp)
Garth Bray
Nearly every member of the Commerce Commission team regulating lenders will be shifting to the Financial Markets Authority when ComCom hands over responsibility for credit contracts.That team is poised to roll out with stronger powers to turn up unannounced at companies and demand to inspect records and monitor operations relating to credit and other matters under financial legislation before Parliament now.“This is not a new regime, and lenders should be under no illusion that there will be any backward steps,” Clare Bolingford, fr...

More Law & Regulation

Manuka Doctor trademark appeal dismissed
Law & Regulation

Manuka Doctor trademark appeal dismissed

One judge dissented, saying he would have allowed the appeal.

John Anthony 10 Oct 2025
Smaller lenders eye prudential requirements in RBNZ review
Finance

Smaller lenders eye prudential requirements in RBNZ review

NBDTA proposed a total capital ratio of 10.5% of risk-weighted assets.

Andy Macdonald 10 Oct 2025
Smiths City owes creditors $26.8m
Retail

Smiths City owes creditors $26.8m

The outlook for unsecured creditors of the former retail icon Smiths City appears bleak, as liabilities have mounted to more than $26.8 million.Liquidators for the century-old retailer stated in their initial report that 240 creditors were owed money by the company, as reported b...

Staff reporters 09 Oct 2025
Cost-benefit issues in spotlight amid RBNZ review
Finance

Cost-benefit issues in spotlight amid RBNZ review

The Reserve Bank of NZ had received 42 submissions to the review.

Andy Macdonald 09 Oct 2025