The FMA and RBNZ want to ensure that sufficient levels of consumer confidence exist in the New Zealand financial system, and that this confidence is both justified and sustainable. Our expectations in the conduct and culture review are:
We reviewed New Zealand’s 11 largest retail banks (see page 35) over a four-month period, to identify conduct and culture issues and risks that may be present locally, and to understand how banks detect, manage and remediate these.
See media release.
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