9.3: Involve the consumer protection authorities

Measurement
Competition Authority reviews operation of competition in capital markets.
Working Group
Implementation Progress

WG deliberations benefit from participation of the Competition Authority.

Status
In progress
Measurement
Financial Sector Consumer Protection framework in place
Working Group
Implementation Progress

The NT is spearheading the development of a National Financial Services Consumer Protection Bill.

Provisions for consumer protection for consumers of financial products and services are included in the FSA Bill 2016 with an increased move towards the design of a robust market conduct framework.

As earlier noted in Activity 7.1.1, the NT is focused on the Financial Markets Conduct Bill 2018. The Financial Markets Conduct Bill proposes the creation of the Financial Markets Conduct Authority, whose objective would be to protect retail financial customers, promote competition and development in the financial sector. The BillĀ also proposes the creation of a Financial Sector Ombudsman whose role shall entail tackling any issues brought forward by retail financial customers and financial service providers.

Status
Time Barred

Key

No Progress
Behind Schedule
Ahead of Schedule