Regulatory burden and barriers to entry

This priority theme exists 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.

Why this is important

There are a number of areas of overlap between the roles of the three regulators in CoFR. These include remit overlaps (where different regulators oversee particular systems or regimes) and entity overlaps (where different regulators have oversight of the same financial institution for different purposes). These areas have the potential to cause confusion for firms and duplication of effort for firms and regulators alike.

CoFR Regulatory Initiatives Calendar

The CoFR agencies recognise the importance of providing stakeholders with a broad picture of the consultations and implementation projects affecting all parts of the financial sector. This calendar sets out the planned regulatory initiatives from the CoFR agencies covering the rest of 2021 and throughout 2022. We will update this timetable regularly.

Regulatory Initiatives Calendar (November 2021) (PDF 624KB)

Current work

The CoFR agencies are working together to ensure that there is coordination among regulators dealing with the following issues, which affect firms across the financial sector:

  • Licensing
  • ‘Fit and proper’/suitability requirements
  • Supervision and monitoring
  • Enforcement strategy and activities

More information

Current consultations and policy development

Reserve Bank of New Zealand

FMA

MBIE

The Treasury

Contact

[email protected]