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New Zealand minister targets banking competition, capital-market growth

By Saloni Sinha ( March 13, 2025, 05:20 GMT | Insight) -- Committed to both capital-market growth and data-portability legislation, New Zealand's new competition minister plans to prioritize the legislation’s passage through parliament in the first quarter of 2025. In a recent speech in Auckland, Scott Simpson, New Zealand’s newly sworn-in competition minister, said that the government’s goal is to “have open banking fully operational by the end of the year” after the passage of the 2024 Customer and Product Data Bill. Committed to both capital-market growth and data-portability legislation, New Zealand's new competition minister plans to prioritize the legislation’s passage through parliament in the first quarter of 2025....

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