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FinTechNZ MoU

An Affiliation Memorandum was signed on 9 May 2018 between TINZ and the New Zealand Financial Innovation & Technology Association (FinTechNZ). This enables collaboration between these two bodies to allow their members to access and benefit from each other’s activities, events and collective knowledge.  

Pictured (left to right) are FintechNZ General Manager, James Brown; TINZ Patron, Lyn Provost;

In case you missed it

Banks and Financial Services

AMP New Zealand welcomes FMA and RBNZ review Scoop Business

'We operate in a way which complies' –New Zealand's banks do not rip off their customers like their Australian counterparts had been doing, the Bankers' Association says. RNZ

Banking royal commission: AMP's misleading of ASIC explained From the Financial Review: "Evidence before the royal commission showed AMP misled the corporate regulator 20 times, including by portraying its "fee for no service" problem as a process error rather than deliberate decisions, and mischaracterising findings from an external audit by PwC."

Sam Stubbs calls for financial services sector to answer 25 questions NZ Herald

Foreign banks 'must abide by the laws of the land' – RBNZ The Reserve Bank has published an article on the conduct of banks that register in New Zealand and says that any bank looking to operate here ‘must be bound by domestic law.’

NZ opts for planner remuneration transparency As Australian financial planners brace themselves for the fallout from the Royal Commission, their counterparts in New Zealand are being made to embrace greater disclosure about the commissions and incentives they receive with respect to insurance sales.

Foreign Trusts

‘Little information’ provided to Mizzi, Schembri auditors New Zealand agents allegedly involved in shadowy Malta trust.

Government Transparency

Government U-turns on transparency for taxpayers Responding to Minister of Justice Andrew Little’s backdown, Taxpayers’ Union spokesperson Louis Houlbrooke says: “Sadly, the Minister of Open Government’s previous commitments to reform a ‘broken’ OIA now look to be out the window. The Government’s broken promises on transparency will justify New Zealanders’ cynical views of politicians across the spectrum.”

Welcome to the New Straight-Talking Reserve Bank of New Zealand

Budget win for the Taxpayers’ Union The Government formally announced public consultation on establishing an independent body to provide parties and the public non-partisan costings on their policies

Government commits to setting up an independent fiscal institution to provide non-partisan costings of political parties’ policies The Government has committed to establishing an independent body to provide the public with non-partisan costings of political parties’ policies and assessments of government forecast.

Budget 2018: Greenest Budget ever, says James Shaw What has been touted as the "the greenest Budget ever" has put more than $600 million toward environment-focused projects.

Six principles developed to guide NZ government use of data Stats NZ and the Privacy Commissioner issue guidance on the use of analytics and automated decision-making

International Corruption

UK committee says dirty Russian money threatens security The British Parliament's foreign affairs committee slammed the government Monday for "turning a blind eye" to the role London's financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy.

New Zealand Business

NZ fintech sector out-pacing rest of the world

Pacific

NZ investigators expose slavery and human trafficking at sea Investigators from New Zealand are behind a global operation that has exposed shocking incidents of human trafficking, slavery and abuse at sea aboard international fishing fleets

Expired: TINZ is searching for a Chief Executive Officer

TINZ is entering a new chapter of its growth and development to take its important work further into New Zealand by appointment of a Chief Executive Officer, a marvellous opportunity for the right person of inspirational leadership qualities who believes in TINZ objectives and wants to help lead this work.

Applications close: 5.00pm Sunday 27 May 2018
Applications to: Kirsty McLaren at mclaren.co.nz
Position description: Available to view at mclaren.co.nz. 

Strong Integrity Systems

Strong Integrity Systems Could Mean People Everywhere Have Rewarding Lives

Suzanne Snively Chair of Transparency International New Zealand was the 2013 Wellingtonian of the Year and in 2015 awarded an ONZM for services to women and business.

Suzanne’s talk is about the need for integrity systems which leads to more rewarding lives for people and highlighting New Zealand currently as the least corrupt public sector in the world.

Read more…

Banking Ombudsman Scheme revamped website

The Banking Ombudsman Scheme recently announced the launch of revamped website and communications material. The new website, which has gone live this month, features improved navigation, better search functions, consolidated content and a simplified complaint form.  These changes will make it easier for people to find the information they need

The redesigned website is bankomb.org.nz. 

Sir Anand appointed to IACC Council

Sir Anand Satyanand has been appointed to the International Anti-Corruption Conference (IACC) Council for a six-year term. His appointment signals a significant advancement of the role of the Pacific and New Zealand within the international anti-corruption community.

Sir Anand is a former Patron of Transparency International New Zealand (TINZ) and currently a member of the Transparency International global Advisory Council.

Member Profile Lisa Traill

Lisa was elected to be a Director of TINZ at the 2017 Annual General Meeting for a standard three-year term. She has provided the following to the Transparency Times.

How do you think corruption affects New Zealand?

Recent research by Deloitte identified the rate of fraud across New Zealand public and private enterprises is likely to be around 20%. 

Farewell to Mark Sainsbury, Conway Powell and Phoebe Myles

Transparency International NZ (TINZ) has reluctantly accepted the resignations of two elected directors, Mark Sainsbury and Conway Powell.

Open Government Partnership workshop dates

On 4 April, the Associate Minister of State Services (Open Government), Hon Clare Curran, launched the development of the 2018-2020 Open Government Partnership National Action Plan (OGP NAP) for New Zealand, at an event involving new graduates employed in the Public Service.

The public and members of all civil society groups everywhere are now invited to:

• Register interest to receive OGP updates on the plan development
• Join the Conversation by viewing and voting on existing ideas,

In case you missed it

New Zealand transparency, integrity and accountability

Banking royal commission: AMP's misleading of ASIC explained From the Financial Review: "Evidence before the royal commission showed AMP misled the corporate regulator 20 times, including by portraying its "fee for no service" problem as a process error rather than deliberate decisions and mischaracterising findings from an external audit by PwC."

'We operate in a way which complies' - NZ bankersNew Zealand's banks do not rip off their customers like their Australian counterparts had been doing, the Bankers' Association says. Source RNZ

NZ fintech sector out pacing rest of the world

New measures coming to ensure NZ is only a place for 'honest business RNZ through stuff.co.nz

Ombudsman seeking better OIA practices

New Zealand rated 'compliant' in OECD tax transparency review

New Zealand scores highly in OECD tax transparency review

Pacific

PNG auditor-general appears in court Papua New Guinea's auditor-general has appeared in court on corruption charges - misappropriation, conspiracy to defraud, abuse of authority and official corruption.

Anti-corruption

15 incentives for greater citizen engagement in the fight against corruption

International

Daphne Project: Journalist's murder accused held until trial

International money laundering

A warning to the corrupt: if you kill a journalist, another will take their place Laurent Richard

French tycoon charged in Africa corruption probe

Have some London estate agents slipped up on their anti-money laundering checks?

Oligarchs hide billions in shell companies. Here's how we stop them The Guardian

How lack of transparency is making China a safe haven for investors

Sport

Chung quits OFC presidency amid rumours of political and financial corruption Inside world football

Corruption probe slams integrity of tennis as 'fertile breeding ground' for match-fixing

FIFA corruption concerns prompt Oceania probe FIFA says it has temporarily suspended the Oceania Football Confederation funding, part of its zero-tolerance approach to corruption

FIFA Vice President Quits after Audit Raises Questions New York Times

TINZ

Investigative journalists find suspicious foreign trusts

Transparency International

The new IMF anti-corruption framework: 3 things we’ll be looking for a year from now

New EU proposals for whistleblower protection is a bold step in the right direction

While the G20 drags its feet, the corrupt continue to benefit from anonymous company ownership

G20 countries moving too slowly to combat financial crime