Menéndez March RicardoRICARDO MENÉNDEZ MARCH (Green): Tēnā koe Mr Speaker. Echoing the comments from Ingrid Leary about just the number of times that I've prepared to give a speech on this bill it's nice to finally get in here. I want to start by also giving a shout-out to our nurses and our migrant nurses on International Nurses Day. The Green Party supports a transparent and well-regulated and accountable financial services sector and we're pleased that this bill the Financial Markets (Conduct of Institutions) Amendment Bill works towards creating such a regime.I note that this bill was introduced almost 2½-plus years ago now and so it does feel like it's been a sort of slow process in getting here. Looking back at some of the submissions which are now somewhat dated I think the issues are very much relevant in terms of some of the pressures that consumers continue facing—as well as retail workers who work in the bank sector—and I wanted to reflect on one of the submissions from FIRST Union who was really clear that a fair-conduct principle is really necessary but it must extend to fully removing sales pressures from New Zealand's retail banks. They talked extensively on some of the pressures that exist on workers and that when we talk about fair conduct we need to think both of the consumers and the workers as well. And I did note in the submission that they were really keen to have some specific requirements regarding the fair-conduct principle.When I was looking at the select committee report from the Finance and Expenditure Committee and the amendments that were being proposed I was pleased to see that not only was there a sort of review period being introduced that I think will allow us to examine whether the bill is actually meeting the requests from submitters to properly protect people from the tactics from financial institutions that are sometimes unfair but also that there are some amendments that seek to clarify and provide more clarity around the concept of the fair-conduct principle and the clarity and broadening of that definition that I think will give some space to hopefully just better protect consumers.And just echoing too what Ingrid Leary was saying earlier I think the potential to apply some of these regulations to intermediaries is really important and that is an area that needs to be properly met. I looked at some of the background into what led to this bill and really thinking about the sort of predatory nature that some insurance companies take on and particularly how they target people that may not have the literacy to understand what may be offered. And I think it is important that we set a regulatory framework that addresses the predatory nature of these institutions.I think it's been great to see quite a few commerce bills being introduced and hopefully passed over the next few sitting blocks. So we're really keen to see this bill being discussed in the committee of the whole House and we'll see if the Minister is planning on bringing forward any changes seeing that this bill has been sitting for quite some time and people have had ample time to provide feedback. We look forward to this bill coming into effect sometime in the near future—hopefully not too many sitting blocks for us to give the speeches. Kia ora.