Since the global financial crisis in 2008, Governments and regulators around the world have moved away from product-focused regulation and a buyer-beware approach and have started paying closer attention to the conduct and culture of financial institutions. In 2018 an Australian royal commission found serious and systemic misconduct in the banking and financial services industry in Australia. Subsequent reviews here in New Zealand by the Financial Markets Authority (FMA) and the Reserve Bank identified worrying weaknesses in the conduct and culture of banks and insurers on this side of the Tasman. These reviews identified failings such as poor systems for managing conduct risks, poor accountability for conduct, and sales incentives that put profits before people.