RBNZ will have to be more sceptical in regulatory oversight - Orr

Wed, 03 Jul 2019

By Paul McBeth July 4 (BusinessDesk) - Reserve Bank governor Adrian Orr says the prudential supervisor will have to be more sceptical in its oversight of the insurance and banking sectors given the lack of self-discipline shown in the CBL Insurance case. The central bank yesterday published an independent review by John Trowbridge and Mary Scholtens QC to examine its supervision of CBL Insurance, spanning its pre-licensed state in 2011 through to its eventual collapse in early 2018. The report found the insurer's failure was a "drama...

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