Regulatory Alerts2022-05-17
Consultation on Regulations under the Non-bank Deposit Takers Bill 2011
The Reserve Bank of New Zealand invites submissions on proposed regulations under the Non-bank Deposit Takers Bill 2011 to finalize the prudential regulatory framework for non-bank deposit takers. The consultation addresses two key proposals: declaring debt-like participatory securities of building societies as debt securities to maintain existing regulatory coverage, and prescribing specific suitability concerns for directors and senior officers. These measures aim to ensure appropriate governance standards and information disclosure while allowing the Reserve Bank to assess the fitness and propriety of key personnel.
Share