Regulatory Alerts2023-07-31
FMI Standard 23B: Notifying the Regulator
The Reserve Bank of New Zealand and the Financial Markets Authority jointly issued FMI Standard 23B to mandate notification requirements for designated Financial Market Infrastructure operators. The standard requires operators to promptly report material incidents, outages of essential services, and potential contraventions of legal or regulatory obligations to the regulator. Additionally, operators must implement effective monitoring methods to detect compliance failures and operational disruptions affecting the New Zealand financial system.
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