Author: Philip vanDyk

New Zealand Bankers’ Association deputy chief executive Antony Buick-Constable said it was strongly recommended that people check out online sales websites before making purchases.

Buick-Constable says it’s important the regulators have a chance to assess the information from banks. “They can then set out the next steps.”

“One of the most effective ways of tackling misconduct is ensuring their are clear processes and safeguards for employees to raise issues safely,” NZBA chief executive Karen Scott-Howman said.

New Zealand Bankers’ Association chief executive Karen Scott-Howman said the industry’s return on equity was about 14 per cent. That is roughly the same as The Warehouse Group and well behind Fisher and Paykel Healthcare’s 26 per cent.

Bankers Association chief executive Karen Scott-Howman said the banks’ revised staff incentive schemes which followed the highly critical Sedgwick Report in Australia last year, indicated banks were committed to “continuous improvement”.

The Bankers’ Association of New Zealand, in a letter it presented to the FMA and Reserve Bank on Tuesday, says banks have been changing their remuneration policies to ensure retail staff no longer receive incentives based directly on sales performance.