Regulatory Alerts2025-05-20
Deposit Takers (Depositor Compensation Scheme Transitional Provisions) Standard 2025
The Reserve Bank of New Zealand issued this standard to require existing deposit takers to implement a DCS depositor page or approved alternate model for collecting depositor information during the transition to the new licensing regime. The rules mandate that these systems securely collect account details and contact information from authorized individuals only upon direction by the Bank following a specified event notice. Additionally, the standard includes a temporary exemption relieving deposit takers from applying these requirements to mobile applications until the end of 2025.
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