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LVR restrictions promote financial stability, evaluation finds

By   /  May 22, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on LVR restrictions promote financial stability, evaluation finds

Source: Reserve Bank of New Zealand Release date 22 May 2019 The Reserve Bank has undertaken a detailed evaluation of Loan-to-Value Ratio restrictions (LVR) as part of a wider review of macroprudential policy. “By improving the resilience of both households and banks, LVR policy has played a useful role in promoting financial stability during a […]

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FMA research highlights gap between what investors expect and what auditors deliver

By   /  May 21, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on FMA research highlights gap between what investors expect and what auditors deliver

Source: Financial Markets Authority Media releaseMR No. 2019 – 2221 May 2019 An FMA research project with investors, directors, managers and auditors has identified reasonable levels of confidence in audit quality, but also a serious gap in the expectations of investors and what auditors are delivering. The FMA commissioned the research to better understand public […]

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Reserve Bank announces next steps in Capital Review

By   /  May 20, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reserve Bank announces next steps in Capital Review

Source: Reserve Bank of New Zealand Release date 20 May 2019 The Reserve Bank has today announced the next steps in its Capital Review, following the closing of written submissions on Friday last week. The review proposes changes to regulatory capital requirements for locally incorporated banks. These include requiring bank shareholders to increase their stake […]

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Reserve Bank censures ANZ

By   /  May 17, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reserve Bank censures ANZ

Source: Reserve Bank of New Zealand Release date 17 May 2019 The Reserve Bank has revoked ANZ Bank New Zealand Limited’s (ANZ) accreditation to model its own operational risk capital requirement due to a persistent failure in its controls and attestation process. ANZ is now required to use the standardised approach for calculating appropriate operational […]

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NZ$5 trillion investor group supports Christchurch Call

By   /  May 16, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on NZ$5 trillion investor group supports Christchurch Call

Source: New Zealand Superannuation Fund New Zealand and global investors representing more than NZ$5 trillion have added their support to the Christchurch Call, which sets out voluntary commitments for governments, companies and wider society to work together to eliminate terrorist and violent extremist content online. Launched today as part of the Tech for Humanity meetings […]

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10 formal AML/CFT warnings issued by FMA

By   /  May 15, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on 10 formal AML/CFT warnings issued by FMA

Source: Financial Markets Authority Media releaseMR No. 2019 – 2113 May 2019 The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). The FMA carried out a risk-based assessment of independent audit reports for reporting entities it […]

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Reminder: Have your say on bank capital levels

By   /  May 13, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reminder: Have your say on bank capital levels

Source: Reserve Bank of New Zealand Release date 13 May 2019 Just one week remains for people to make a submission on the Reserve Bank proposals to make the banking system safer by increasing minimum bank capital. The Reserve Bank is consulting on proposals to increase the amount of capital banks must have. If implemented, […]

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Global Finance Brought Locally

By   /  May 8, 2019  /  24/7 News, AM-NC, Auckland, DJF, Finance, KB, KB, Mortgage Brokerage, Mortgages, Press Release, Press Release Service Auckland  /  Comments Off on Global Finance Brought Locally

Source: Press Release Service – Auckland (PR.co.nz) The view that the customer is sovereign is alive and well at Global Finance. Global Finances Customer Care Program, sees more than 1000 people voluntarily surveyed annually where feedback across key customer engagement and service areas are sought. Real feedback and some exceptional comments are considered by Global […]

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Official Cash Rate reduced to 1.5 percent

By   /  May 8, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Official Cash Rate reduced to 1.5 percent

Source: Reserve Bank of New Zealand Tena koutou katoa, welcome all. The Official Cash Rate (OCR) has been reduced to 1.5 percent. The Monetary Policy Committee decided a lower OCR is necessary to support the outlook for employment and inflation consistent with its policy remit. Global economic growth has slowed since mid-2018, easing demand for […]

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Company convicted for abuse of the FSPR

By   /  May 3, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Company convicted for abuse of the FSPR

Source: Financial Markets Authority Media releaseMR No. 2019 – 2003 May 2019 Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been convicted at the Wellington District Court on two counts of breaching the Financial Services Providers Act 2008 (FSP Act) for falsely claiming it was registered on the Financial Services Providers Register (FSPR). A copy […]

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FMA files charges under Crimes Act

By   /  April 27, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on FMA files charges under Crimes Act

Source: Financial Markets Authority Media releaseMR No. 2017 – 269 June 2017 Two men appeared yesterday in the Tauranga District Court in relation to various charges filed by the FMA under the Crimes Act. Robert Ian South is charged with two counts of theft by a person in a special relationship, under section 220 of […]

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NZ Super Fund named as a leader among the world’s most responsible asset allocators

By   /  April 23, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on NZ Super Fund named as a leader among the world’s most responsible asset allocators

Source: New Zealand Superannuation Fund A new study has named the New Zealand Super Fund as one of the world’s most responsible asset allocators. Announced last week at the Annual Spring Meetings of the World Bank, ‘The 2019 Leaders List: The 25 Most Responsible Asset Allocators’ identifies those institutions that set a global standard for […]

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Reserve Bank of New Zealand welcomes next steps by global climate initiative

By   /  April 18, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reserve Bank of New Zealand welcomes next steps by global climate initiative

Source: Reserve Bank of New Zealand Release date 18 April 2019 The focus on climate and environmental risk by central banks globally is accelerating, with the release of a comprehensive report at the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) conference in Paris overnight. “The report targets an issue of […]

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Reserve Bank extends submission time for bank capital proposal

By   /  April 16, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reserve Bank extends submission time for bank capital proposal

Source: Reserve Bank of New Zealand Release date 16 April 2019 Deputy Governor Geoff Bascand announced, “We have extended the public submission date to May 17 for views on our proposal to increase minimum capital requirements for banks. The consultation process on this matter will now extend to approximately five months.” “The Reserve Bank’s proposed […]

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Director sentenced to community service for abuse of FSPR

By   /  April 16, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Director sentenced to community service for abuse of FSPR

Source: Financial Markets Authority Media releaseMR No. 2019 – 1816th April 2019 A New Zealand-based director of Morgan DeVere Corporate Finance Limited has been sentenced to 75 hours of community service for breaching the Financial Service Providers (Registration and Dispute Resolution) Act 2008. (FSP Act). The FMA alleges that the company stated it was registered […]

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FMA files civil proceedings over trading in Oceania Natural

By   /  April 15, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on FMA files civil proceedings over trading in Oceania Natural

Source: Financial Markets Authority Media releaseMR No. 2019 – 1715 April 2019 The Financial Markets Authority (FMA) has issued civil proceedings in the High Court against four individuals in relation to trading in Oceania Natural Limited. (ONL) The proceedings relate to alleged breaches of market manipulation prohibitions and the disclosure obligations in the Financial Markets […]

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NZ Super Fund excludes gun companies

By   /  April 12, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on NZ Super Fund excludes gun companies

Source: New Zealand Superannuation Fund Companies involved in the manufacture of civilian automatic and semi-automatic firearms, magazines or parts prohibited under New Zealand law have been excluded from the $41 billion NZ Super Fund. The move by the Guardians of New Zealand Superannuation, the Crown entity that manages the Fund, reflects the passing of the […]

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Statement on ANZ v FMA Supreme Court judgment

By   /  April 12, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Statement on ANZ v FMA Supreme Court judgment

Source: Financial Markets Authority Media releaseMR No. 2019 – 1612th April 2019 The FMA is pleased with the Supreme Court decision in the matter between ANZ and the FMA, released this morning. Now that the restrictions on confidentiality over these matters has been lifted, the FMA will be able to engage with the liquidation committee […]

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NZ Super Fund seeks to capitalise on growing demand for data; invests up to US$115 million in North American data centres

By   /  April 12, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on NZ Super Fund seeks to capitalise on growing demand for data; invests up to US$115 million in North American data centres

Source: New Zealand Superannuation Fund The NZ Super Fund (the “Fund”) is seeking to capitalise on demand for digital infrastructure, underpinned by the growth in data, by investing up to US$115 million in North American data centres. The investment is being made alongside vehicles managed by CIM Group, a North American real estate and infrastructure […]

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Reserve Bank seeking views on proposal to increase bank capital

By   /  April 11, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reserve Bank seeking views on proposal to increase bank capital

Source: Reserve Bank of New Zealand Release date 11 April 2019 Just three weeks remain for people to share their thoughts about proposals to increase minimum bank capital levels and make the banking system safer. The Reserve Bank is consulting on proposals to increase the amount of capital banks must have, to ensure they can […]

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