Regulatory Alerts2019-12-16
Memorandum of Understanding between ASIC and the Reserve Bank of New Zealand on Information Exchange and Co-operation
The Australian Securities and Investments Commission and the Reserve Bank of New Zealand have established a framework for information exchange and cooperation to promote the effective performance of their respective financial regulation functions. The agreement outlines procedures for mutual assistance, including written requests for non-public information, advance notification of significant regulatory actions, and the establishment of safeguards to protect the confidentiality of shared data. While the MOU does not create legally binding obligations or modify domestic laws, it commits both authorities to use best endeavours to assist each other in supervising regulated persons and enforcing regulatory laws within their jurisdictions.
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