RBNZ creates new enforcement arm

Deputy governor and financial stability general manager Geoff Bascand.

Tue, 13 Apr 2021

The Reserve Bank of New Zealand (RBNZ) said it has established a new, stand-alone enforcement department "to promote confidence in compliance across regulated sectors".The central bank, which is also the prudential regulator of banks, non-bank financial institutions and insurance companies, said the new department is operationally separate from the bank's supervision team, but both arms will work closely together.Deputy governor and financial stability general manager Geoff Bascand said RBNZ has "compliance goals of incentivi...

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