Regulatory Alerts2021-07-31
Memorandum of Understanding between Financial Markets Authority and Reserve Bank of New Zealand
The Financial Markets Authority and the Reserve Bank of New Zealand have executed a Memorandum of Understanding to formalize their cooperative relationship and ensure the effective regulation of New Zealand's financial system. The agreement establishes principles for open communication, information sharing, and joint decision-making, particularly regarding the oversight of Financial Market Infrastructures under the Financial Markets Infrastructure Act 2021. It defines operational protocols for handling Joint Interest Matters, specifies statutory frameworks for exchanging confidential information, and outlines dispute resolution and review mechanisms to maintain regulatory efficiency.
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