Financial institutions / Big five & fintech (1,962 items)

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A closer eye but no inquiry?

New Zealand government ministers say they see no evidence in the kiwi banking system of the sort of "systemic problems" that prompted the Hayne royal commission, but they have agreed to meet regularly with the RBNZ and the FMA as the two regulators develop a work programme to better monitor bank conduct and culture and improve transparency in the financial services sector. read more

Westpac rate conduct "ran counter to obligations"

Westpac has been found in breach of its obligations under its financial services licence and also held to have engaged in unconscionable conduct in the bank bill market, the Federal Court of Australia ruled yesterday. The bank has evaded any adverse findings regarding allegations of market manipulation or market rigging and also allegations of misleading or deceptive conduct. read more

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