Regulatory Alerts2020-03-17
Memorandum of Understanding between the Financial Markets Authority and the Reserve Bank of New Zealand
The Financial Markets Authority and the Reserve Bank of New Zealand have issued this Memorandum of Understanding to formalize their cooperative regulatory relationship and replace their 2011 agreement. The document establishes cooperation principles, detailed information-sharing protocols under Schedule 1, and a standardized framework for declaring and managing Joint Interest Matters under Schedule 2. It mandates timely consultation on policy changes, outlines procedures for dispute resolution and annual reviews, and explicitly preserves each agency’s statutory independence while coordinating oversight of New Zealand’s financial system.
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