{"id":337,"date":"2010-09-28T00:50:33","date_gmt":"2010-09-28T00:50:33","guid":{"rendered":"http:\/\/wp3.thomsonreuters.net.au\/journals\/?p=337"},"modified":"2010-09-28T00:50:33","modified_gmt":"2010-09-28T00:50:33","slug":"note-regulation-of-new-zealands-non-bank-deposit-takers-the-new-regime-unfolds","status":"publish","type":"post","link":"https:\/\/sites.thomsonreuters.com.au\/journals\/2010\/09\/28\/note-regulation-of-new-zealands-non-bank-deposit-takers-the-new-regime-unfolds\/","title":{"rendered":"Note: Regulation of New Zealand\u00e2\u20ac\u2122s non-bank deposit takers: The new regime unfolds"},"content":{"rendered":"<p><strong><em>By Jennifer Tunna*<\/em><\/strong><\/p>\n<p>In the last three years, a large number of New Zealand\u00e2\u20ac\u2122s finance companies have effectively collapsed and there has been little activity amongst those left standing. As a result, depositors have suffered large losses and investor confidence in the sector has become practically non-existent. In response, the New Zealand government has undertaken substantial reform to the regulatory framework applying to New Zealand\u00e2\u20ac\u2122s remaining and future non-bank deposit takers. These reforms impose considerably more onerous obligations on deposit takers and their corporate trustees with a view to achieving a stated purpose \u00e2\u20ac\u201c the maintenance of a sound and efficient financial system. This note seeks to provide a summary of the reforms.<\/p>\n<p>The full note can be accessed here: &#8220;Regulation of New Zealand\u00e2\u20ac\u2122s non-bank deposit takers: The new regime unfolds&#8221; <a href=\"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-content\/uploads\/sites\/3\/2010\/09\/JBFLP-21.2_NZ-Note.pdf\">(2010) 21 JBFLP 174<\/a>.<\/p>\n<p>* Jennifer Tunna, Senior Solicitor, Chapman Tripp, Auckland.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jennifer Tunna. In the last three years, a large number of New Zealand\u00e2\u20ac\u2122s finance companies have effectively collapsed and there has been little activity amongst those left standing. As a result, depositors have suffered large losses and investor confidence in the sector has become practically non-existent. In response, the New Zealand government has undertaken substantial reform to the regulatory framework.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[75,76,77,78,73,79,80,81],"class_list":["post-337","post","type-post","status-publish","format-standard","hentry","category-journal-of-banking-and-finance-law-and-practice","tag-deposit-takers","tag-depositors","tag-finance-companies","tag-investors","tag-jbflp","tag-new-zealand","tag-non-bank","tag-reforms"],"_links":{"self":[{"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/posts\/337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/comments?post=337"}],"version-history":[{"count":0,"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/posts\/337\/revisions"}],"wp:attachment":[{"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/media?parent=337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/categories?post=337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.thomsonreuters.com.au\/journals\/wp-json\/wp\/v2\/tags?post=337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}