This regime will apply to banks, insurers, and non-bank deposit takers. There has been much discussion about the scope of the regime. The scope has been deliberately set to capture those areas where there is the clearest and greatest evidence of harm. The evidence gathered through previous reviews found that this risk lay with banks, life insurers, and general insurers. On the one hand, I've received feedback that the scope of the bill is too narrow and that it should be expanded to include all financial service providers. I acknowledge that some financial service providers, like finance companies, will be subject to a different level of regulation. However, these entities and the products that they offer are already subject to regulation, such as the responsible lending obligations under the Credit Contracts and Consumer Finance Act, and product-specific obligations under the Financial Markets Conduct Act. The scope of the regime can be extended in future, though, if it's deemed to be needed to achieve the purposes of the Act—if we identify any gaps that need to be addressed. 