Regulation of conduct the next step in installation of Twin Peaks model
Outcomes of Conduct of Financial Institutions Bill are broader than the Treating Customers Fairly Act and are not limited to retail
The Conduct of Financial Institutions Bill, which is expected to be tabled in parliament in 2019, is said to represent the next phase of legislation aimed at remodelling the financial sector framework towards a Twin Peaks model.
This model is expected to replace and improve the conduct requirements in existing financial sector laws by addressing aspects of the current multipronged policy approach through building a market conduct legislative framework for all institutions performing financial activities. ..