Have your say on Financial Service Providers (Registration and Dispute Resolution) Amendment Bill

Media Release

Organisation: Finance and Expenditure Committee

For release: 21 May 2025

Have your say on Financial Service Providers (Registration and Dispute Resolution) Amendment Bill

The Finance and Expenditure Committee is calling for submissions on the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

This bill is one of three that the Finance and Expenditure Committee is considering related to financial services. The other two bills are the Credit Contracts and Consumer Finance Amendment Billand the Financial Markets Conduct Amendment Bill.

Please take care to upload your submission on the relevant bill.

Financial dispute resolution is a free way for consumers to resolve disputes with their bank, insurer, KiwiSaver provider, or other financial service provider. This bill would make two changes to financial dispute resolution. The changes aim to ensure:

• improved oversight of approved dispute resolution scheme performance, by requiring the responsible Minister to decide how the schemes must undertake their independent reviews
• effective and impartial governance of the schemes' boards, by providing for a regulation-making power that can be used to set skills, experience, and independence requirements of board members.

Tell the Finance and Expenditure Committee what you think:

Make a submission on the billby 11.59pm on Monday, 23 June 2025.

For more details about the bill:

ENDS

For media enquiries contact:

Finance and Expenditure Committee Staff

fe@parliament.govt.nz