This bill will create a broad regime governing the conduct of financial institutions such as banks, insurers, and non-bank deposit takers. The ultimate aim of this new regime is to improve the conduct of financial institutions and to help rebuild trust and confidence in our financial sector. This will serve the needs and interests of everyday consumers and lift wellbeing across the board. This is particularly important and timely given the problems that have been occurring in the financial sector, and the various reviews that have taken place which led to the introduction of this bill. 