Regulatory Alerts2023-07-31
CLS Bank Response to RBNZ Financial Market Infrastructures Standards Consultation
CLS Bank International submitted comments to the Reserve Bank of New Zealand regarding its proposed Financial Market Infrastructures Standards. The submission affirms that CLS meets the requirements for overseas-equivalence under the New Zealand regulatory framework, citing compliance with US Regulation HH and PFMI principles. CLS also provided specific feedback on Standard 17A, suggesting clarifications regarding contingency plan review cycles and the scope of foreseeable scenarios to better align with international best practices.
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