A guide to the FMA's view of conduct
Aim: To outline for financial service providers how conduct is the FMA’s ‘lens’, through which it examines what providers do, how they do it, and how that translates to what providers’ customers experience.
Outcome: Completion of this module will help financial service providers and financial advisers to:
- Understand the FMA’s view of what constitutes good conduct
- Assess their own conduct practices to ensure they would meet the FMA’s expectations
- Show how they demonstrate good conduct.
Abstract: Good conduct matters because conduct is at the heart of all customers’ experiences of financial products and services. This guide, relevant not just to licence holders under the FMC Act, but to all in the financial services industry, provides principles-based guidance about how the FMA views conduct. Those views affect how it thinks about licensing (and re-licensing), supervision, monitoring, and enforcement, including how it considers customer complaints and views customer outcomes. The guidance note includes questions for providers and financial advisers to consider when assessing their own conduct, and which indicate what the FMA will be looking for and asking about when considering conduct.