Regulatory Alerts2022-05-17
BS 9 - Application for consent to acquisition or increase significant influence over a registered bank
The Reserve Bank of New Zealand issued document BS 9 to specify the information applicants must provide when seeking written consent to acquire or increase significant influence over a registered bank. The guidance details required disclosures regarding the bank's incorporation, ownership structure, business size, prudential policies, standing, and the suitability of directors and senior managers. It also clarifies that no application is needed for influence changes resulting from specific loss absorption triggers and notes potential requirements under the Overseas Investment Act 2005.
Share