Regulatory Alerts2022-07-03
Memorandum of Understanding between the Commerce Commission and the Reserve Bank of New Zealand
The Commerce Commission and the Reserve Bank of New Zealand have established a Memorandum of Understanding to formalize cooperation and information sharing regarding matters of mutual regulatory interest. The agreement outlines specific protocols for requesting and disclosing information, with particular emphasis on coordinating assessments of insurance mergers and changes of control in banks and non-bank deposit takers. It further defines operational procedures for handling prudential information, appointing relationship managers, and ensuring compliance with privacy and legal obligations during joint investigations.
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