Doing business within the new non-bank finance sector regime
Thank you to everyone who attended the INFINZ Finance Companies Conference. This important event for the non-bank finance sector was an outstanding success; bringing together almost 200 industry professionals for discussion with the Reserve Bank of New Zealand, Ministry of Economic Development and Securities Commission on the way forward for the sector amongst market volatility.
Liam Mason, General Counsel of the Securities Commission detailed the new regulation for the non-bank finance sector, which was announced to the market on 19 September and came into force on 21 September; the day of the conference. The new regulations aim to strengthen the position of trustees with short-term changes relating to reporting to trustees, audit and the verification of information.
The panel of finance company executives provided insights into the current marketplace, with most executives citing the need for greater education; especially in understanding credit ratings. They see the new regulatory environment as a positive that will improve industry standards and transparency, and enhance understanding of market risks and returns.
Many thanks to all our event sponsors for their support of the event and the overall industry. InAssociation look forward to seeing you at the next INFINZ event.
