Based on responses from almost 7,200 insurance employees, APRA found some of the lowest scores in risk governance and controls.
A new consultation paper seeks feedback on the principles and criteria which will guide the RBNZ's enforcement decision-making process moving forward.
Some policies inaccurately refer to obsolete requirements for whistleblowers to identify themselves or make disclosures in good faith or without malice to qualify for protection.
Firma NZ failed to conduct product suitability tests for clients and to regularly provide statements to investors. The contraventions were "persistent and systemic".
15 organisations call for the compensation scheme of last resort to include product providers, managed investment schemes and the funeral expenses industry.
ADRs are allowed to receive information from other data holders and offer products and services under the consumer data right regime.
The RBNZ increased its official cash rate for the first time in seven years to contain inflationary pressures and cool the housing market.
Changes being considered include the introduction of a new registration regime for all AML/CFT businesses, a licensing regime for VASPs, and direct penalties for senior managers.
The regulations prescribe when ASIC must refer disciplinary matters to the single disciplinary body and which sanctions must be included on the Financial Advisers Register.
Banks should operate with a mortgage serviceability buffer of at least 3 percentage points over the loan interest rate, and control lending at high debt-to-income ratios.
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