Officials MIA on banking competition, critics tell inquiry

"These emperors wear no clothes," Andrew Bodysays of officials advising on banking regulation. (Image: NZME)

Thu, 20 Feb 2025

Parliament’s banking competition inquiry is being urged not to let government officials “mark their own homework” when it comes to assessing how well the sector has been regulated in recent years.In a 45-minute appearance before the finance and expenditure select committee, lawyer Simon Jensen and investment banker Andrew Body flayed the Reserve Bank (RBNZ), Treasury and Ministry for Business, Innovation and Employment (MBIE) for creating or allowing too much regulation to stifle banking sector competition.“Don’t l...

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