Regulatory Alerts2022-02-27
Corporate governance policy for banks
The Reserve Bank of New Zealand issued this policy to establish minimum corporate governance standards for registered banks to promote financial stability. It mandates specific conditions of registration, including board composition requirements such as a majority of non-executive and independent directors, and the establishment of a separate audit committee. The document further provides guidelines on director independence, qualifications, and the board's responsibility to act in the bank's best interests.
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