Compliance from businesses providing financial services can prevent avoidable hardship and put money back in hundreds and thousands of people's wallets each week .

FinCap made a submission on the Financial Markets Conduct Amendment Bill on behalf of financial mentors.

Financial Mentors are constrained in supporting people with money issues when financial services do not comply with requirements and create or compound people's financial hardship.

FinCap supports elements of the bill that improve powers of the Financial Markets Authority and clarify pricing and standards in conduct. However, we also see opportunities to strengthen the FMA's administration of financial markets regulatory system by providing them with more tools and greater visibility of debt collection markets.

Read the submission here.