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FMA Progressing CoFI Implementation With Publication Of Licensing Materials
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko is continuing to progress preparations for the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFI), with the release of a suite of materials for banks, insurers and non-bank deposit takers (NBDTs).
Higher interest rates necessary
The Monetary Policy Committee today increased the Official Cash Rate (OCR) from 3.5 percent to 4.25 percent.
FMA finds continuing improvements to audit quality
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has found audit firms have improved their record keeping in relation to accounting estimates and how they are being sceptical of entities’ financial statements.
Global financial stress will test resilience
The rising global interest rates necessary to curb inflation will test New Zealand’s financial resilience, Governor Adrian Orr says in releasing the November 2022 Financial Stability Report.
Spotlight on: Wholesale investing
If you’ve spent much time on social media over the past year, you might have seen advertising for investment offers - often property developments - that say they’re open to “wholesale investors” only.
Testing our resilience
A speech delivered by Governor Adrian Orr at INFINZ Conference 2022.
FMA files proceedings against Vero for allegedly misleading customers about multi-policy discounts
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court proceedings against Vero Insurance New Zealand Limited for failing to apply multi-policy discounts, which led to affected customers being overcharged approximately $8.7 million in premiums.
Continued monetary tightening
The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 3.5% from 3.0%.
Spotlight on: Stock lending
With the rise of retail share trading and easy to use online investment platforms, some features of share ownership previously only available to merchant banks and brokers are now being offered to everyday, smaller-scale investors.
It's the OCR that matters for inflation targeting
The Reserve Bank of New Zealand – Te Pūtea Matua – is well placed to manage the wind-down of additional monetary policy (AMP) tools, Assistant Governor Karen Silk says in a speech today to the KangaNews New Zealand Debt Capital Markets Summit 2022.
FMA reveals annual corporate plan
The Financial Markets Authority has released its annual corporate plan 2022/23 by signalling a period of change for both the financial services industry and the regulator itself.
First Privacy Act compliance notice successfully closed
The Privacy Commissioner has today announced the closure of its first compliance notice, issued to the Reserve Bank of New Zealand – Te Pūtea Matua in September 2021.
Derek Grantham speaking at the Mortgage Link & Insurance Link Conference
Making a difference in the new era of financial advice.
Feedback sought on policy for branches of overseas banks
The Reserve Bank of New Zealand – Te Pūtea Matua is inviting feedback on the second and final consultation on the review of its policy for branches of overseas banks.
Banks and insurers have work cut out with CoFI
It is the job of financial institutions to manage financial risks and provide suitable products and services to customers. Most are good at this and recognise that balancing broad stakeholder interests is important to remain sustainable and for our financial system to function properly.
RBNZ Deputy Governor Hawkesby open to cash rate above 4% to tame inflation
New Zealand's central bank is open to the possibility of raising its benchmark rate as high as 4.25% amid uncertainty over the amount of tightening needed to regain control of inflation.
The RBNZ's monetary policy tools
To achieve our monetary policy goals – maintaining low and stable consumer price inflation while contributing to maximum sustainable employment – we set and influence the level of NZ dollar interest rates in an effort to balance aggregate spending and investment activity (demand) with the supply of goods and services in the economy.
New Zealand central bank hikes rates, signals aggressive stance
Reserve Bank of New Zealand unveils seventh straight hike, lifting benchmark rate to 3 percent.
FMA review of ethical investing claims in managed funds
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko has completed a review of 14 KiwiSaver and other managed funds to establish how well they are applying the FMA’s integrated financial product (IFP) guidance.
Reserve Bank of New Zealand：Monetary Policy review in July
A report released today, How Central Bank Mistakes after 2019 led to Inflation, has been received by the Reserve Bank of New Zealand – Te Pūtea Matua and will be considered as part of our public Monetary Policy Remit review process underway.
Rob Everett Speaking at the Financial Services Council Breakfast
The Reserve Bank's balance sheet set to expand further in response to COVID-19
FMA Releases Report into Active and Passive Fund Management
Sector Lending (Registered Banks and Non-Bank Lending Institutions) - C5
Same Objectives, Different Challenges