Regulatory Alerts2022-05-17
Financial Market Infrastructures Act 2019
The Reserve Bank of New Zealand and the Financial Markets Authority jointly regulate financial market infrastructures under this Act to ensure financial system stability. The legislation establishes a regime for designating systemically important entities, imposing binding operational standards, and granting legal protections for settlement finality and netting. It further empowers regulators to enforce compliance through penalties and manage distressed FMIs via crisis intervention powers, including statutory management.
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