Regulators consult on financial ‘plumbing’

Mon, 26 Jul 2021

The Reserve Bank of New Zealand and the Financial Markets Authority are asking the finance industry how a new law governing financial infrastructure should be implemented.In May this year, the Financial Market Infrastructure Act became law. It governs systems allowing electronic payments and financial market transactions to occur.These systems are sometimes referred to as "the plumbing of the financial system” but are called Financial Market Infrastructures or FMIs in the act. They include payment systems, securities settlement syste...

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