RBNZ probes banks’ conduct after Australian inquiry reveals malpractice
New Zealand regulators express alarm over revelations from Royal Commission
New Zealand’s central bank has written to the country’s commercial banks, demanding they demonstrate that they have no “material conduct issues” similar to those revealed by a recent Australian inquiry.
New Zealand’s four largest banks all have an Australian parent company. “We both believe that the nature and extent of the issues within financial services in Australia and the obvious cross-over in terms of entities, people and practices into New Zealand demands a strong response from the
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