Regulatory Alerts2022-05-17
Memorandum of Understanding between the FSA and the Reserve Bank of New Zealand regarding Insurance Organisations
The Financial Services Authority and the Reserve Bank of New Zealand have confirmed an amendment to their 1998 Memorandum of Understanding to include insurance organizations under their respective supervisory regimes. This update expands the scope of the agreement to cover New Zealand insurance organizations supervised by the Reserve Bank and UK insurance organizations supervised by the FSA. Consequently, all references to banking organizations within the original Memorandum are now amended to read banking and/or insurance organizations.
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