Regulatory Alerts2017-02-28
Memorandum of Understanding between the Reserve Bank of New Zealand and the Financial Services Authority
The Reserve Bank of New Zealand and the UK Financial Services Authority established this Memorandum of Understanding to facilitate the sharing of supervisory information regarding cross-border banking operations. The agreement mandates the notification of material supervisory concerns, coordinates inspection plans, and outlines procedures for exchanging confidential data to ensure financial stability and regulatory compliance. Strict confidentiality obligations are imposed on both authorities, ensuring shared information is used solely for lawful supervisory purposes and remains the property of the providing party.
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