Regulatory Alerts2022-02-27
How we exempt non-bank deposit takers
The regulator exercises powers under Section 70 of the Non-bank Deposit Takers Act 2013 to exempt licensed non-bank deposit takers from specific regulatory provisions. Exemptions are granted only when they maintain a sound financial system, address unduly burdensome requirements, and remain narrowly tailored to the specific circumstances. The regulator imposes alternative terms and conditions to ensure minimum prudential standards are met while considering principles such as consistency, depositor risk assessment, and effective risk management.
Share