The Council of Financial Regulators (CoFR) – Kaunihera Kaiwhakarite Ahumoni – contributes to maximising New Zealand’s sustainable, economic wellbeing through effective and responsive regulation of the financial system in New Zealand.
The Council of Financial Regulators (CoFR) held its quarterly meeting on Monday 1 September 2025. The meeting was co-chaired by Financial Markets Authority Chief Executive Samantha Barrass and Reserve Bank of New Zealand Governor Christian Hawkesby. The Council discussed the progress of the independent review of CoFR, commissioned by Heads in June to assess CoFR's effectiveness and make recommendations on how to implement a more strategic and purposeful future state.
17 September 2025
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The Council of Financial Regulators has released the Q2 2025 update to the Regulatory Initiatives Calendar for New Zealand’s financial sector. This document is produced to help the sector understand the aggregate picture of regulatory initiatives from CoFR members that are either planned or under way. The next update is planned for the end of September.
1 July 2025
CoFR Heads met on 4 June to discuss an independent review of the Council of Financial Regulators (CoFR).
10 June 2025
CoFR has released a joint Issues Paper on Access to Basic Transaction Accounts. We are consulting on the introduction of basic transaction accounts to support currently excluded customer groups.
23 April 2025
The Council of Financial Regulators (CoFR) held its quarterly meeting on Monday 24 March 2025. The meeting was chaired by Financial Markets Authority Chief Executive Samantha Barrass. The Council discussed the key external factors that could impact the financial system, noting in particular the rapid developments in artificial intelligence and ongoing geopolitical uncertainty.
4 April 2025
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28 March 2025
The Relationship and Regulatory Charters set out the goals, principles, roles and functions of CoFR.
The two Charters:
Our vision and activities operate within the framework of the statutory responsibilities set for each agency and the preferences and priorities set by Government. Our charter sets out how we work together to deliver the vision.
CoFR Regulatory Charter (PDF 718KB)
The regulatory charter promotes good regulatory stewardship to monitor the performance and quality of the financial markets regulatory system.
CoFR has agreed a Memorandum of Understanding to facilitate consistent cooperation and mutual assistance between CoFR members.
CoFR Memorandum of Understanding
The Memorandum of Understanding is a statement of the members’ intent to work together and cooperate in relation to the regulation of New Zealand’s financial system.
These are the current focus areas for CoFR. They represent the priority areas for CoFR, but the activities undertaken under each of them may vary – for example, taking forward specific projects or developing communities of interest to ensure that agencies can build a common understanding of the risks and opportunities in each area.
To help facilitate a smooth transition to a low-carbon and climate-resilient economy, while supporting the soundness and efficiency of the financial system.
To maintain an up-to-date and shared understanding of the cyber risk and financial fraud and scams landscape and ensure effective coordination and cooperation among CoFR agencies when dealing with cyber incidents that affect New Zealand’s financial system and to reduce the harm arising from financial fraud and scams.
To ensure the regulatory system facilitates innovation that improves outcomes for customers and financial system participants.
To coordinate the work of CoFR agencies to improve consumers’ access to, and understanding of, financial services, particularly in hard-to-reach communities.
To coordinate the work of CoFR agencies to ensure that regulatory initiatives are developed and implemented in a joined up manner, to minimise burdens on the financial sector and ensure that they do not cause unintended barriers to entry.