It's a bill where much of the evidence of the problems is based on qualitative reports by the Financial Markets Authority (FMA) and the Reserve Bank into conduct, and the culture into the banking and insurance sector, plus the Ministry of Business, Innovation and Employment (MBIE) report back filling the stakeholders' rationales. ACT has a concern that this is all bones and no muscle, and so do others. No crisis, no burning platform here; this is FMA director Mason. FMA and the Reserve Bank said that there were relatively few instances of potential misconduct. The Insurance Brokers Association said that this still results in less availability of independent financial advice in the full reveal of product and design information. The independent financial advisers said that there's no evidence presented that financial institutions are not already treating consumers fairly. The Bankers' Association raised concerns to the incentive prohibitions and settings. 