Watchdogs to NZ banks: prove you're clean

Tue, 01 May 2018

By Pattrick Smellie May 2 (BusinessDesk) - The regulators for the banking sector yesterday delivered a sharp message to New Zealand's largest, mainly Australian-owned banks, to demonstrate clearly why their customers should believe their business practices differ from their Australian parents, following a string of revelations at an Australian banking royal commission of inquiry. The governor of the Reserve Bank of New Zealand, Adrian Orr, and the chief executive of the Financial Markets Authority, Rob Everett, called representatives of t...

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