The Reserve Bank has published a Consultation Paper relating to a possible strengthening of audit requirements for insurer data returns. Submissions are invited from interested parties prior to 16 December 2017. Read the consultation paper.
The Reserve Bank of New Zealand has published an update on Prescribed Transactions Reporting. Please read the update here.
Sep 2017 NBDTs
Non-bank Deposit Taker licence cancelled
Christian Savings Incorporated has requested that the Reserve Bank of New Zealand cancel its licence as a non-bank deposit taker granted under the Non-bank Deposit Takers Act 2013 because it has transferred its business to Christian Savings Limited, a newly licenced NBDT. The Reserve Bank is satisfied that Christian Savings Incorporated is no longer making NBDT regulated offers of debt securities and no longer has debt securities that were offered under an NBDT regulated offer. Having satisfied itself of these matters, the Reserve Bank gives notice that the NBDT licence granted to Christian Savings Incorporated on 26 January 2015 was cancelled on 27 September 2017 pursuant to section 21(h) of the Non-bank Deposit Takers Act 2013.