On 11 April 2018, the Reserve Bank published a consultation document on its approach to allowing overseas banks to use restricted words (such as “bank” and “banking”) in New Zealand without being registered here as a bank.
On 29 March 2018, the Reserve Bank published updated versions of its working copies of the disclosure Orders in Council, to incorporate the changes that take effect from 31 March. A number of other web page changes were made at the same time, to reflect the fact that off-quarter disclosure statements are no longer required.
The NZ Police Financial Intelligence Unit has published a National Money Laundering and Terrorism Financing Risk Assessment (‘NRA’) in March 2018. The NRA sets out the current understanding of the national-level risks of illicit financing in New Zealand.