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Deposit taker regulation and financial stability – emerging currents

A speech by Ross Pennington, Principal Legal Counsel, delivered at the Financial Markets and Credit Law Conference in Auckland on 20 October 2025.

About the speech

The introduction of the Deposit Takers Act (DTA) is bringing major changes to prudentially regulated financial institutions, on a scale similar to the impact of the Financial Markets Conduct Act (FMCA) on the broader financial sector a decade ago. This regulatory shift coincides with accelerating market disruption including the rise of fintech and stablecoins, AI-augmented operating models, and a maturing institutional capital base.

This speech unpacks how these converging forces are reshaping the regulatory world, and the new strategic opportunities for legal and advisory practitioners to engage in supporting outcomes for their clients and the financial system.