Regulators review of financial boards finds room for improvement

A Reserve Bank and FMA report finds there are areas needing improvement around reporting entity boards. (Image: Depositphotos)

Dileepa Fonseka

Tue, 05 Sep 2023

A Reserve Bank and the Financial Markets Authority investigation into the board operations of entities they regulate has found room for improvement in several areas, including succession planning, conflict of interest management and diversity.The joint "thematic review" explored the governance practices of 29 entities across banking, insurance, non-bank deposit taking and investment management which were regulated by either the Reserve Bank of New Zealand (RBNZ) or Financial Markets Authority (FMA).Just over half the entities the repo...

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