Regulatory Alerts2023-07-31
FMI Standards Exposure Draft Published for Consultation
Steve Gordon of the Reserve Bank of New Zealand submits feedback to the RBNZ and Financial Markets Authority regarding the draft Financial Markets Infrastructure Act standards. The letter requests clarification on independent assurance requirements, materiality thresholds, and the November 2023 compliance effective date to manage implementation costs and operational risks. It further seeks guidance on leveraging existing cybersecurity baselines and aligning the cadence of risk management assessments to minimize regulatory duplication.
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