Regulatory Alerts2023-07-31
FMI Standard 17: Operational Risk
The Reserve Bank of New Zealand and the Financial Markets Authority jointly issued FMI Standard 17 to mandate operational risk management for designated financial market infrastructure operators. The standard requires operators to identify, mitigate, and manage operational risks through robust frameworks, secure internal systems, and defined reliability objectives. It further mandates external assurance engagements by qualified auditors every two years and after material incidents, with reports provided to the regulator upon request.
Share