Conduct is how market participants behave and how they serve the needs of customers.
It is about how a business operates as a whole, and it’s driven by the culture and the governance of the organisation.
We expect financial service providers to conduct themselves in a way that serves the needs of customers. This means a focus on:
We expect boards and senior managers to look at this list and then ask themselves whether they are doing these things.
We also expect them to be proactive in identifying instances where they may not be properly serving the needs of customers.
This guide to the FMA’s view of conduct gives more detail on what we expect.
We assess the conduct of market participants in a number of ways, including:
We also get information from consumers to understand their perspectives on the conduct of market participants.