Regulatory Alerts2022-02-27
Cross-sector thematic review on governance
The Reserve Bank of New Zealand and the Financial Markets Authority jointly conducted a thematic review of governance practices across the banking, insurance, non-bank deposit taking, and investment management sectors. The review assessed 29 regulated entities and found that while some entities demonstrated strong strategic planning and director appointment processes, most require improvement in board chair selection, succession planning, and performance evaluation. Regulated entities are expected to maintain effective governance frameworks that support boards in making well-informed decisions in the best interests of stakeholders.
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