The Commerce Commission has signed a memorandum of understanding with the Financial Markets Authority relating to the new Financial Markets Conduct Act.
The FMA is now is the primary regulator of misleading and deceptive conduct in relation to
financial products and services.
These include products and services such as term deposits, shares, and derivatives such as futures contracts.
Responsibility for matters relating to consumer credit remains with the commission.
This includes products and services such as personal credit cards, loans, and mortgages.