Mortgage experts across the New Zealand feel that under the new financial regime, customers stand to lose and it will severely harm their interests.
The new measures are also being criticized by the New Zealand Mortgage Brokers Association. It represents 650 mortgage and insurance advisers across the country and feels that the new measures will severely harm the interests of the customers. It is highly critical of the new Financial Service Providers Bill.
Experts feel that most of the people seek advice to protect advice related to home financing and insurance. They feel it is a very critical service and helps safeguard the interests and future of the customers. After the new measures are implemented, customers will lose out on a lot of things and it will also have a negative impact on the whole market.  
Most of the Companies are very critical of these measures and feel that it will not be in the interests of anyone in the market. But Companies are forced to allot a lot of money and resources to qualify for the new status.    
The regulators are defending these moves and feel that they will help all the stakeholders. They feel that these steps will increase the professionalism in the industry and protect all the customers.
These measures are expected to be adopted some time by the next year.