Govt looks to increase regulators' powers to keep banks in line

Mon, 05 Nov 2018

By Pattrick Smellie Nov. 5 (BusinessDesk) - Legislation to improve regulators' oversight of banks' behaviour and to require more reporting on conduct by the banks themselves looks almost inevitable after comments from Prime Minister Jacinda Ardern and Commerce Minister Kris Faafoi today. While a review by the Reserve Bank and Financial Markets Authority found no evidence in New Zealand of the systemic problems uncovered by the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Arder...

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