Global FinTech Guide
Country Name
New Zealand
RegTech and compliance management
RegTech is composed of the words “regulatory” and “technology”. It is a collective term for the application of modern technologies, to get the increasing regulation in the banking- and financial sector under control both from an IT and a legal standpoint.


Attitude of the country towards RegTech-services

New Zealand has only recently gained awareness of RegTech. New Zealand’s legislation does not distinguish between products and services provided with reliance on FinTech and those that are not.

Some discussion in this space suggests, that, in particular, use of RegTech in relation to FMCA compliance could be difficult and further development within this regulatory framework would be required in order for RegTech to suitably interact with it.

Regardless, the FMA is supportive of the FMCA’s purpose, and it could be expected that it will be collaborative with RegTech providers going forward. The FMA itself openly requests to know more about the range of tools available to enable it to analyse regulatory data.

Legal affairs  

Obligations and requirements to provide RegTech-services

There is nothing RegTech specific within any sector and it is entirely dependent on the scope of the services provided. Simply providing IT services to a bank or other provider of financial services, which don’t relate to the actual banking or financial systems, will not likely invite any requirement for licensing. There is no specific licence required to provide advice on or support for financial regulatory compliance.

Additional comments regarding the legal situation for RegTech-services or what RegTech’s must be aware of in this business area


Economic conditions

Market size for RegTech-services and biggest companies in this business area

As discussed above, RegTech in New Zealand is in its infancy and there are likely plenty of gaps within the market to be explored particularly, as relating to the FMCA regime. There is, however, a somewhat competitive market in place for RegTech solutions in relation to AML compliance.

Additional comments regarding the economic situation for RegTech-services or what RegTech’s must be aware of in this business area




© 2022, Tompkins Wake. All rights reserved by Tompkins Wake as author and the owner of the copyright in this chapter. Tompkins Wake has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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