The Financial Markets Authority and Reserve Bank of New Zealand have completed their joint review into the conduct and culture of 11 New Zealand banks. The regulators identified significant weaknesses in the governance and management of conduct risks. These weaknesses have resulted in a number of issues that require remediation.

This review provides an opportunity to ensure that the Reserve Bank Act is fit for purpose and able to provide a strong, flexible, and enduring regulatory framework that enjoys broad public and industry support.

Market Forces, working with Vietnamese community organisations and other international NGOs, has found that equator principles (EP) signatory banks are violating those principles in their involvement in syndicates funding five Vietnamese coal-fired power stations. In doing so, they are failing the people that the principles seek to protect.

The Commission’s work, so far, has shown conduct by financial services entities that has brought public condemnation. Some conduct was already known to regulators and the public - some was not. Why did it happen? The answer seems to be greed – the pursuit of short term profit at the expense of basic standards of...

A majority of Australians believe the Royal Commission into Banks and Financial Services has uncovered more wrong doing (70%) and is most important for Australians (65%) compared to the Royal Commission into Trade Unions.