RBNZ to boost transparency on regulatory breaches
Central bank presses ahead with plan to report “material breaches” by banks on its website
The Reserve Bank of New Zealand is moving forward with plans to increase transparency around banks’ breaches of regulations.
The central bank said on September 23 it would be publishing “material breaches” by banks on its website from 2020, “in an effort to improve transparency and market discipline”.
“The policy aims to enhance market discipline by ensuring prompt breach reporting and publication, and by making it easier to find and compare information about banks’ compliance history,” said
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