LEGAL REGULATION OF THE FINANCIAL SYSTEM OF NEW ZEALAND
( Pp. 115-118)
More about authors
Sitkareva Elena V.
kandidat yuridicheskih nauk, docent, docent kafedry grazhdanskogo prava i processa i mezhdunarodnogo chastnogo prava
RUDN University Law Institute
RUDN University Law Institute
Abstract:
The article says that the system of financial regulators in New Zealand is built according to the traditional scheme - the Reserve Bank regulates the activity of banks, insurers and non-bank depositories (NBDT). Banking activity is regulated by the Reserve Bank of New Zealand Act 1989. In the years 2011-2013 in the country the reform of the legal regulation of the financial system was carried out. The reform included the introduction of the Financial Markets Authority Act 2011, the Non-bank Deposit Takers Act 2013, the Financial Markets Conduct Act 2013, the Financial Reporting Act of 2013. The main components of the New Zealand financial system are financial institutions (banks and non-bank depositories (NBDT)) and the financial market. Currently, 24 banks are registered in New Zealand, with four major Australian banks (ANZ, ASB, BNZ and Westpac) accounting for 87 percent of the country's bank lending.
How to Cite:
Sitkareva E.V., (2018), LEGAL REGULATION OF THE FINANCIAL SYSTEM OF NEW ZEALAND. Sociopolitical Sciences, 3 => 115-118.
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Banking industry facts and figures //NZBA. URL: http://www.nzba.org.nz/consumer-information/nzba-assistance/banking-industry-facts-figures/ Data obrashcheniya 14.04.18.
BHUNIA PRIYANKAR. Australian and New Zealand financial regulators reaffirm collaboration on FinTech opportunities and innovation. 28 OCT 2017. URL: https://www.opengovasia.com/articles/8160-australias-and-new-zealand-financial-regulators-reaffirm-collaboration-on-fintech-opportunities-and-innovation Data obrashcheniya 12.04.18.
Credit Contracts and Consumer Finance Act 2003. URL: http://www.legislation.govt.nz/act/public/2003/0052/latest/DLM211512.html Data obrashcheniya 10.04.18.
Dann Corin. New Zealand s financial system in good shape, but risks remain - RBNZ.URL: https://www.tvnz.co. nz/one-news/new-zealand/new-zealands-financial-system-in-good-shape-but-risks-remain-rbnz Data obrashcheniya 13.04.18.
Financial Markets Conduct Act 2013. URL: http://www.legislation.govt.nz/act/public/2013/0069/92.0/DLM4090578.html Data obrashcheniya 09.04.18.
Financial Service Providers (Registration and Dispute Resolution) Act 2008 (Amendment Act 2014)/URL: http://www.legislation.govt.nz/act/public/2008/0097/latest/DLM1109427.html Data obrashcheniya 10.04.18.
FinTech developments and implications for RBNZ regulatory responsibilities. URL: https://www.rbnz.govt.nz/ financial-stability/financial-stability-report/fsr-november-2017/fintech-developments-and-implications-for-rbnz-regulatory-responsibilities Data obrashcheniya 13.04.18.
KOH DEAN. New Zealand Financial Innovation and Technology Association (FinTech NZ) launched. URL: https://www.opengovasia.com/articles/7345-new-zealand-financial-innovation-and-technology-association-fintech-nz-launched Data obrashcheniya 13.04.18.
New Zealand - Financial Sector//This information is derived from the State Department s Office of Investment Affairs Investment Climate Statement. Last Published: 8/11/2017. URL: https://www.export.gov/article id New-Zealand-fina-cial-sector Data obrashcheniya 11.04.18.
Overview of the New Zealand financial system//The Reserve Bank. URL: https://www.rbnz.govt.nz/financial-stability/overview-of-the-new-zealand-financial-system Data obrashcheniya 11.04.18.
Schmulow Andrew D. The four methods of financial system regulation: An international comparative survey URL: https://clsbluesky.files.wordpress.com/2016/03/clsbsb1.pdf. Data obrashcheniya 06.04.18.
