A new paper from the Financial Stability Institute says neither entity-based nor activity-based regulation is in and of itself the optimal choice.
Members of the new institute will deliver recommendations to NZX on its rule settings and CG Code to further enhance listed companies' corporate governance practices.
GoTyme Bank, a joint venture of digital banking group Tyme and members of the Gokongwei Group of companies, was awarded a Certificate of Authority.
A 'Consumer Credit Oversight Board' will be established as an independent authority to oversee all consumer credit activities including BNPL under a single umbrella.
Reported losses suffered by Australian victims of imposter bond scams increased by 265% to A$20mn in H1, compared to the same period last year.
The FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.
Survey responses from banks. insurers and super funds shows are "encouraging". A key area for improvement is metrics and targets.
Robinhood Crypto had inadequate staffing of its AML programme, transaction monitoring deficiencies, and noncompliant cybersecurity policies.
Forsage investors earned profits by recruiting others into the scheme, which used assets from new investors to pay earlier investors.
Accenture to provide an independent review of the new CHESS application and help ASX determine a new launch schedule.