Regulatory Alerts2022-05-17
Visa Worldwide Submission on Reserve Bank of New Zealand Financial Market Infrastructures Bill Exposure Draft
Visa Worldwide submitted comments to the Reserve Bank of New Zealand regarding the Exposure Draft Financial Market Infrastructures Bill, advocating for a risk-based regulatory approach. The submission argues that oversight should be proportional to systemic risk, recognizing that Visa operates as a B2B service provider to regulated financial institutions rather than a direct consumer-facing entity. Visa further urges the inclusion of principles-based, technology-neutral regulation and mutual recognition of existing international oversight to avoid duplicative costs and foster innovation.
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