Regulatory Alerts2022-05-17
Reserve Bank of New Zealand Policy on Suitability of Bank Directors and Senior Managers
The Reserve Bank of New Zealand mandates that applicants for bank registration and post-registration appointments of key office-holders must undergo a suitability assessment based on integrity, skills, and experience. The Bank conducts negative assurance checks by reviewing curriculum vitae, criminal records, and foreign regulatory assessments, while also enforcing specific corporate governance requirements regarding board independence. Nominated office-holders are required to provide detailed documentation, including up-to-date CVs and criminal history reports, to enable the Reserve Bank to determine if it has any objections to their appointment.
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