Regulatory Alerts2022-05-17
Regulatory Impact Statement: An Enhanced Oversight Framework for Financial Market Infrastructures
The Reserve Bank of New Zealand and the Financial Markets Authority propose new legislation to establish an enhanced oversight regime for systemically important financial market infrastructures. The framework mandates designation for these entities, granting regulators information gathering, business-as-usual, and crisis management powers to mitigate systemic risks. This risk-based approach aims to correct market failures while limiting fiscal exposure and maintaining flexibility for compliance.
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