Regulation and supervision Cautions and notices

Cautions and notices

The Reserve Bank of New Zealand has issued current and expired notices.

Current cautions & notices
29 Mar 2019
Notice
NZ Dental Health Warranties
31 May 2018
Notice
Chartered Savings Loan and Trust Limited
30 Jun 2016
Notice
1808 Te Awaroa Native Reserve Bank
30 Jun 2016
Notice
‘Mauri NGO’ or ‘Mauri Bank’
17 Sep 2012
Notice
'Sovereign Global Bank of Aotearoa'
31 Aug 2012
Notice
City Commercial Bank
10 Jul 2012
Notice
Elite Bank Group
10 Jul 2012
Notice
Century Finance Limited trading as Century Bancorp
17 Apr 2012
Notice
First International Bancorp Limited
29 Mar 2012
Notice
Rich Finance Limited trading as Rich Bank
13 Jan 2012
Notice
Bantec Financial Group Ltd
23 Nov 2011
Notice
Swiss Financial Corp Limited
18 Nov 2011
Notice
Misleading ‘banking’ certificates have no legal authority
14 Jul 2011
Notice
Inappropriate use of names that include the word 'Bancorp'
06 Apr 2011
Notice
Windsor Savings Limited trading as Windsor Bancorp
28 Mar 2011
Caution
No licensed offshore finance industry
24 Dec 2010
Notice
Afix Group Limited
14 Oct 2009
Caution
New Zealand offshore finance companies
05 Oct 2009
Caution
Clarification on Building Societies
Expired cautions & notices
08 Jun 2011
Notice
The Magnus Trust Limited trading as Magnus Bancorp and Trust
31 Dec 2010
Notice
Metropolitan Financial Holdings Limited
14 Oct 2009
Notice
Miami International Bank and Bansur International Bank

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Regulatory news & updates

Nov 2020 Insurance

The Reserve Bank has published a further review on how licensed insurers assess their exposure to catastrophe risk. This follows on from a similar review completed in 2016. Insurers were asked to provide information on their catastrophe risks in respect of governance, processes for assessment of risks, any modelling undertaken, the controls to limit exposures, and mitigation to reduce the effects of catastrophes. This has allowed us to better understand how insurers are prudently managing their catastrophe exposures, and to monitor changes since the 2016 survey.

Download the 2020 Insurer catastrophe risk survey report (PDF 550KB)

Nov 2020 Banks

The Reserve Bank launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

View the Media release: Reserve Bank launches consultation to implement Capital Review changes.

Nov 2020 Banks

The Reserve Bank has published a regulatory update announcement covering four areas:

  • Capital Review Implementation Timing
  • Capital Review Implementation Consultation
  • Loan-to-Value Ratio Restrictions
  • Dividend Restrictions

View the Media release: Further regulatory steps to promote cashflow confidence and stability.

Oct 2020 Insurance

The Reserve Bank is relaunching its Review of the Insurance (Prudential Supervision) Act 2010 following deferrals due to work on the RBNZ Act and due to COVID-19.  An initial paper has been released setting out the anticipated timeline for the project.

The Reserve Bank is also launching a review of the Insurer Solvency Standards. These documents govern the minimum capital that insurers are required to hold, and need to be reviewed in light of the findings of a number of recent reviews, as well as the impending introduction of IFRS 17 – Insurance Contracts.  A paper has been released setting out the timeline for the project as well as the principles intended to guide the review.  Feedback is invited.

Sep 2020 AML-CFT

AML/CFT Supervisors have updated the Enhanced Customer Due Diligence guideline