Regulatory Alerts2021-08-31
Memorandum of Understanding between the Council of Financial Regulators
The Reserve Bank of New Zealand, Financial Markets Authority, The Treasury, Ministry of Business, Innovation and Employment, and Commerce Commission have entered into a Memorandum of Understanding to facilitate coordinated financial system regulation. The agreement establishes frameworks for bilateral information sharing and joint cooperation on emerging risks, policies, and supervision methods within the Council of Financial Regulators. It mandates strict confidentiality and privacy protections for shared data while explicitly stating that the document is not legally binding and does not limit the statutory independence of any party.
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