The consultation sets out requirements under the new licensing regime, including safeguards for retail investors, travel rule requirements, and maximum penalties for misconduct.
February 20, 2023The rules strengthen requirements for firms to protect customers and implement transaction management and process controls.
January 24, 2023Banks and insurers must incorporate consumer protection mechanisms into their corporate governance, culture-building exercises, and business development strategies.
January 5, 2023The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and "algorithmic discrimination".
May 23, 2022Banks have been sent a detailed list of the RBNZ's findings and instructions to develop remediation plans and conduct assessments against the findings.
September 9, 2021GEO's breaches were attributable to Lun Sheung Nim's failure to discharge his duties as a responsible officer and member of the senior management.
June 11, 2021The guidance sets out how investor suitability and appropriateness tests should be carried out during the sales process.
June 4, 2021The firm also did not have effective controls in place for product due diligence, client risk tolerance assessment, and record-keeping.
March 25, 2021The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
February 25, 2021Financial institutions are asked to use the case as a reference for improving their own consumer rights protection mechanisms.
February 4, 2021