APRA proposes to require ADIs to identify and register an accountable person to hold end-to-end product responsibility for each product offered to customers.
The proposals seek to ensure resilience of critical systems, reliability of outsourced services, and appropriate management of cyber and data security risks, among other requirements.
The NZX improved its market surveillance function in response to last year's FMA review. It is also planning to complete a trading system upgrade next year, using NASDAQ technology.
The former adviser is said to have prioritised his own interests over those of his clients by providing inappropriate advice that maximised fees and commissions.
The RBNZ is reviewing its regulatory requirements and intensifying its supervision of financial institutions to boost the resilience of New Zealand's financial system.
The draft regulatory guide sets out the scope of ASIC's new powers, when and how it expects to use the power, and how a product intervention order is made.
Earlier this month, the RBA called for an enforceable sanctions regime and possible financial penalties for participants that do not deliver core NPP capabilities on time.
The updated guidance is intended to help regulated entities comply with APRA’s new cross-industry prudential standard on information security, which comes into force on 1 July.
The government is proposing a limit between NZD 30,000 and 50,000 for the deposit protection regime, which covers about 90% of individual bank deposits.
From 5 July, any party seeking to acquire more than a 15% stake in a superannuation licensee will be subject to must apply to APRA first for approval.