FSC Code of Conduct

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Recognising the need for the industry to take action to improve itself, FSC members have worked together to develop a code of conduct that promotes good conduct and a strong customer-focused culture. The Code of Conduct supports existing law and regulations, bringing self-regulation to the industry.

There are nine Code Standards focused around three core objectives:

  1. Principal ethical standard, ensuring business is carried out professionally and with due care.
  2. Customer perspective standards, ensuring effective two-way customer communications.
  3. Delivering good customer outcomes, ensuring effective products and distribution, training, risk management, management of conflict and fair treatment of customers.

All potentially material breaches of the Code of Conduct are assessed by an independent disciplinary committee, and potential sanctions range from a reprimand, to fines of up to $100,000, through to expulsion from the FSC. This Code of Conduct demonstrates the commitment of FSC members to continuously improving conduct, culture and consumer outcomes for the benefit of New Zealanders and the New Zealand economy.

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FSC Code of Conduct

The FSC Code of Conduct has nine Code Standards that all FSC members must comply with. The Code came into effect on 1 January 2019.

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Guidelines supporting the FSC Code of Conduct

These guidelines are designed to help FSC members understand the FSC Code and bring good conduct to life in their own organisation. The guidelines complement the FSC Code of Conduct but are for guidance only and are not mandatory for members to comply with. The guidelines come into effect on 1 January 2021.

FSCCOCGuidance
 
Educational material for the FSC Code of Conduct

To help FSC members embed the FSC Code of Conduct within their own organisation, the FSC Code Working Group developed two learning modules. The first module introduces the FSC Code of Conduct and the second module helps bring the Code to life by using the supporting Code guidance.

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Facilitator Guide 2020

This facilitator guide helps FSC members run learning module one – introduction to the FSC and the FSC Code of Conduct.

FSC Facilitator Guide Code of Conduct

About Us

The Financial Services Council is a non-profit member organisation and the voice of the financial services sector in New Zealand. Learn more
     

Contact Us

+64 (09) 985 5762
fsc@fsc.org.nz
Level 33, ANZ Centre
23-29 Albert Street
Auckland 1010
New Zealand