Quarterly Statement by the Council of Financial Regulators – March 2025

The Council of Financial Regulators (CoFR) held its quarterly meeting on Monday 24 March 2025. The meeting was chaired by Financial Markets Authority Chief Executive Samantha Barrass. The Council discussed the key external factors that could impact the financial system, noting in particular the rapid developments in artificial intelligence and ongoing geopolitical uncertainty.

The Council reviewed developments in New Zealand’s payments system and noted the importance of upcoming developments like the passage of the Customer and Products Data Bill.

The Council considered its future work programme and agreed to review its strategic focus in order to ensure that it could be as efficient as possible in supporting effective and responsive regulation of the financial system in New Zealand.