Month: September 2019

Bank and insurer groups welcome govt’s new regime

“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.

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 »

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.