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Financial Services Regulation - December update

December 01, 2017


Partners Josh Cairns, Anne Callinan, Barney Cumberland, James Hawes, Don Holborow, Michael Pollard, Michael Robinson
Senior Associates Laurette Barnard

Financial services regulation

Our monthly Financial Services Regulation Update highlights the key developments affecting the financial services sector.

Three key areas this month are:


The updated Participant Rules (with the exception of rule 10.7.2), related appendices, Participant Rule Procedures, Derivatives Market Rules, and Clearing and Settlement Rules are now in force. A transitional grace period applies until 31 March 2018. 


The Reserve Bank is consulting on a new mortgage bond collateral standard and on changes to banks’ disclosure requirements. 

The Reserve Bank is also easing the LVR restrictions on residential mortgage loans from 1 January 2018.

Financial reporting

Two new accounting standards - NZ IFRS 9 Financial Instruments and NZ IFRS 15 Revenue from Contracts with Customers - apply from 1 January 2018.They could affect an organisation’s financial statements, existing contracts and arrangements, etc.

For a full copy of this month's update, please register on our guides page here.