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Financial Markets (Conduct of Institutions) Amendment Bill

Introduced on Dec 11. The Bill amends to the Financial Markets Conduct Act to create a new regulatory regime for financial institutions and their intermediaries with a principle of fair conduct and associated duties and regulations. First reading on Feb 12 with National and ACT opposed. National MPs said the Bill was overly complex and gave too much regulatory powers to ministers to deal with what was only a perceived problem. They also said provisions removing financial incentives for sales went to far. Sent to the Finance and Expenditure Committee. Financial Markets (Conduct of Institutions) Amendment Bill