Latest news

Commerce Commission issues draft determination on Payments New Zealand’s application to further develop its open banking framework

The Commerce Commission (Commission) has reached a preliminary view that it should grant conditional authorisation to Payments NZ Limited (Payments NZ) to work with current and future API providers (ie, banks) and third parties (eg, fintechs) to develop and apply a partnering framework relating to the provision of API services by API providers to third parties (the Proposed Arrangement).

Read more

Pyramid scheme promoter ordered to pay $5.9m in record Fair Trading Act case

Shelly Cullen has been ordered by the Auckland District Court to pay $5.9m for her promotion of the pyramid scheme ‘Lion’s Share.’ This is a combination of a $600,000 fine - the largest ever criminal fine issued to an individual under the Fair Trading Act - and an order to pay over $5.3m to reflect the value of the commercial gain she made through the scheme.

Read more
See all media releases

Commission videos