It’s (fairly) complicated: conduct re-reforms promise pain relief, FMA on steroids

(Image: Getty)

Wed, 29 May 2024

Simple is hard.In financial services law, simple is possibly impossible.And simplifying isn’t easy either, as the Ministry of Business, Innovation and Employment (MBIE) confesses in just-released proposals to reform the so-called Conduct Of Financial Institutions (Cofi) legislation.“There is a risk that simplifying and reducing the specificity of fair conduct programme requirements [under Cofi] could make it more difficult for financial institutions to understand what the content of their fair conduct programme should look like (par...

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