The bill introduces a conduct-licensing regime for banks, insurers, and non-bank deposit takers.  These financial institutions will be required to treat customers fairly and that's what's known, of course, as the fair conduct principle. They will need to have fair conduct programmes in place that set out how they will comply with the fair conduct principle—in other words, what concrete actions they'll take to treat their customers fairly. These programmes will cover a wide range of areas—for example, a financial institutions distribution arrangement, oversight of sales incentives, and training and management of employees. These programmes won't be "set and forget"; they'll be living documents that will require financial institutions to continually think about how to ensure fair outcomes for all consumers. 