Regulatory Alerts2022-05-17
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Payments NZ Submission on the Financial Market Infrastructures Bill Exposure Draft
Payments NZ Limited submits that the Financial Market Infrastructures Bill imposes inappropriate regulatory burdens on rule-making bodies that do not own or operate infrastructure. The submission argues for narrowing the definition of 'operator' and tailoring regulatory powers to distinguish between entities managing infrastructure and those solely administering rules. It further requests that standards and directions be limited to matters within the operator's actual control to ensure effective and feasible compliance.
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