Regulatory Alerts2022-05-17
NBDTs - Declarations Cabinet Paper - Website Version
The Office of the Minister of Finance proposes regulations under the Non-bank Deposit Takers Act 2013 to exclude specific entities from the prudential licensing regime. The excluded categories include intergroup funding conduits, payment facility providers, small registered charities, and special purpose vehicles established by registered banks. This exclusion aims to reduce compliance costs for entities that do not pose systemic risks or carry on business substantially similar to typical non-bank deposit takers.
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