Monday, 26 July 2021, 2:10 pm
Groups with an interest in the financial market
transactions and payments are being asked for their views on
how a new law governing the ‘plumbing’ of the financial
system should be implemented.
The Financial Market
Infrastructure Act became law in May 2021. The new Act
governs Financial Market Infrastructures (FMIs) – a set of
critical systems that are sometimes referred to as the
plumbing of the financial system. These systems allow
electronic payments and financial market transactions to
occur.
The Reserve Bank of New Zealand – Te Pūtea
Matua and the Financial Markets Authority (FMA) - Te Mana
Tātai Hokohoko are together the regulator of FMIs under the