Shane Johnstone

2 months ago | lexology.com | Jan Etwell |Scott Abel |Rebecca Green |Shane Johnstone |Andrew Suggate |Thomas Carr

As indicated by Hon Nicole McKee's announcements regarding the reform of New Zealand's anti-money laundering and countering financing of terrorism (AML/CFT) regime at the end of 2024 (as discussed in our previous article, and Beehive press releases here and here), the first of the three-part work programme is well underway.

Oct 15, 2024 | lexology.com | Scott Abel |Jan Etwell |Rebecca Green |Shane Johnstone |Simon Jensen |Andrew Suggate | +3 more

The Reserve Bank of New Zealand (RBNZ) has released a second round of consultation on its review of its access policy and criteria for participation in its Exchange Settlement Account System (ESAS). The consultation paper proposes access criteria that, in principle, would open access to ESAS to participants other than registered banks, such as non-bank deposit takers and payment service providers. This consultation will be of interest to any businesses considering applying for ESAS access.