“We will work closely with the government and regulators to develop and implement the new requirements,” New Zealand Bankers’ Association chief executive Roger Beaumont stated.
Month: September 2019
Banks welcome new financial conduct regime
The New Zealand Bankers’ Association today welcomed the government’s announcement to introduce a new regime for financial service providers to ensure fairer treatment for customers. “Banks want to treat their customers fairly. It’s good for customers and good for business. We welcome further steps to help ensure we’re doing that. We will work closely… Read more »
Bank staff to help teach School Leavers’ Toolkit
The banking industry will provide hands-on skills to support the School Leavers’ Toolkit by making staff available to teach the financial literacy component, as required. The New Zealand Bankers’ Association has been involved in the development of the toolkit since it began, providing ideas, specialist expertise and content approval for the financial literacy component. Banks… Read more »
Government’s proposed conduct licensing regime for financial service providers will make them accountable for sales to consumers
“Since last year’s Bank Conduct and Culture Review all banks have committed to removing sales incentives for frontline salespeople and their managers. While that review found no evidence of widespread misconduct and culture issues across the industry here we accept there’s work to do to put better systems and processes in place to ensure good… Read more »
Government to ban ‘profits ahead of people’ tactics by banks, insurers
“You can be confident that the person you’re talking to is not being incentivised in any way to sell you a product or service.”
Laws will levy ‘strong’ fines on banks, insurers
“Banks want to treat their customers fairly. It’s good for customers and good for business.”
Phase 2 of the Reserve Bank Act Review – Consultation Document 2A: The role of the Reserve Bank and how it should be governed
Treasury and the Reserve Bank of New Zealand
RBNZ to publicise regulatory breaches
NZBA said that it supported openness and transparency and was pleased the central bank had accepted that only actual material breaches be published.
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