RBNZ eyes Westpac Australia money laundering failures

Jenny Ruth
Wed, 20 Nov 2019

The Reserve Bank says it is looking closely at the Australian financial crimes regulator's allegation that Westpac Banking Corp has engaged in widespread, systemic and frequent failures to adhere to laws combatting money laundering and terrorism financing.RBNZ deputy governor and head of financial stability Geoff Bascand says the central bank is working closely with its regulatory counterparts in Australia, including the Australian Transaction Reports and Analysis Centre.AUSTRAC has applied to the Federal Court of Australia for civil penalty or...
Markets
MARKET CLOSE: NZ shares rise as vaccine trial boosts global sentiment
Dan Brunskill | Wed, 15 Jul 2020

New Zealand shares rose for a third day as investors welcomed interim results of a covid-19 vaccine trial which showed a positive immune response to the virus. The S&P/NZX 50 Index rose 116.38 poin...

Markets
NZ dollar stalls awaiting details of China response to US
Jenny Ruth | Wed, 15 Jul 2020

The New Zealand dollar was little changed as the market awaited China's response to the United States rejecting most of its claims in the South China Sea and after more hype about potential coronaviru...

Policy
Auckland Council needs to fill $750m shortfall
Brent Melville | Wed, 15 Jul 2020

Auckland Council is facing a "larger than expected" fiscal hole of $750 million this year, including a provision of $224 million to shore up its creaking water infrastructure. In announcing its dec...