Regulatory Alerts2022-05-17
Financial Market Infrastructures Bill: Exposure Draft
The Reserve Bank of New Zealand invites public submissions on an exposure draft of the Financial Market Infrastructures Bill to establish a standalone regulatory regime for systemically important financial market infrastructures. The proposed legislation mandates enhanced oversight, legally binding standards, and crisis management powers for designated entities to mitigate systemic risk and align with international best practices. Key provisions include a new approval regime for rule changes, specific protections for settlement finality during participant insolvency, and a tailored regulatory approach for overseas FMIs operating in New Zealand.
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