Regulatory Alerts2022-05-17
NBDT Licensing Update November 2014
The Reserve Bank issued this November 2014 update to outline general conditions for Non-bank Deposit Taker licences and provide an assessment of the ongoing licensing process. The document mandates that NBDTs must submit suitability notices for new or continuing senior officers and prohibits appointments if the Reserve Bank does not issue a notice of non-objection. It further warns directors and officers about frequent non-disclosure of suitability concerns, emphasizing that broad regulatory definitions require full disclosure of potential issues regardless of their age or perceived impact.
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