Rosewill Consulting Limited is a young company built on a wealth of knowledge and practical skills sourced through a wide range of consultants. Where we do not have the specific expertise you require, we will refer you to a specialist for that area.
Our goal is to integrate regulatory requirements with sensible business practice to make your business more efficient while meeting its compliance obligations.
We bring together like-minded consultants who share values of integrity, trust and respect. Our approach is to understand your business needs first, consider options and help you implement solutions that will enable your business to grow and not be constrained by the impact of regulatory change.
Rosewill Consulting Limited is a young company built on a wealth of knowledge and practical skills sourced through a wide range of consultants. Where we do not have the specific expertise you require, we will refer you to a specialist for that area.
Our goal is to integrate regulatory requirements with sensible business practice to make your business more efficient while meeting its compliance obligations.
We bring together like-minded consultants who share values of integrity, trust and respect. Our approach is to understand your business needs first, consider options and help you implement solutions that will enable your business to grow and not be constrained by the impact of regulatory change.
Rosewill Consulting Limited is a young company built on a wealth of knowledge and practical skills sourced through a wide range of consultants. Where we do not have the specific expertise you require, we will refer you to a specialist for that area.
Our goal is to integrate regulatory requirements with sensible business practice to make your business more efficient while meeting its compliance obligations.
We bring together like-minded consultants who share values of integrity, trust and respect. Our approach is to understand your business needs first, consider options and help you implement solutions that will enable your business to grow and not be constrained by the impact of regulatory change.
Rosewill Consulting Limited is a young company built on a wealth of knowledge and practical skills sourced through a wide range of consultants. Where we do not have the specific expertise you require, we will refer you to a specialist for that area.
Our goal is to integrate regulatory requirements with sensible business practice to make your business more efficient while meeting its compliance obligations.
We bring together like-minded consultants who share values of integrity, trust and respect. Our approach is to understand your business needs first, consider options and help you implement solutions that will enable your business to grow and not be constrained by the impact of regulatory change.
Rosewill Consulting Limited is a young company built on a wealth of knowledge and practical skills sourced through a wide range of consultants. Where we do not have the specific expertise you require, we will refer you to a specialist for that area.
Our goal is to integrate regulatory requirements with sensible business practice to make your business more efficient while meeting its compliance obligations.
We bring together like-minded consultants who share values of integrity, trust and respect. Our approach is to understand your business needs first, consider options and help you implement solutions that will enable your business to grow and not be constrained by the impact of regulatory change.
CoFI - Licence
Preparing for your conduct licence?
We can provide Compliance Managers and Project Managers with guidance on how to prepare for the new licence. This includes a business impact assessment, gap analysis and helping ensure that your governance, risk and compliance frameworks meet the fair conduct principle.
It's all about ensuring good customer outcomes
Your Licensing Project
CoFI is an all-of-business project because ensuring good customer outcomes touches every part of your business.
Important dates
Early 2023:
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The FMA will publish draft intermediated distribution guidance for consultation.
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MBIE is expected to confirm the date that the new regime will come into force and the fees that will be charged for licence applications.
25 July 2023:
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Financial Institution Licence applications are open for submission.
Early-2025:
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The new regime will come into force. All existing banks, insurers, and licensed non-bank deposit takers will be required to have a financial institution licence when the new regime comes into effect.
For a preliminary discussion, touch base anytime. Email comply@rosewillconsulting.co.nz or phone Karty Mayne on 0274 666 686.
What is the Fair Conduct Principle?
Good outcomes for your customers
The fair conduct principle is the overarching principle of CoFI that a financial institution must treat consumers fairly. It is important that consumers get the financial products and services they need throughout their life, when they need them, and have trust and confidence these will do what they should.
The requirement to treat consumers fairly includes:
· paying due regard to consumers’ interests; and
· acting ethically, transparently, and in good faith; and
· assisting consumers to make informed decisions; and
· designing products and services to meet customer requirements; and
· not applying tactics such as unfair pressure
During 2023 Rosewill Consulting Limited are running a series of webinars on how to prepare your business for this licence. If you would like to register for the webinars, contact us on comply@rosewillconsulting.co.nz.