✨ Banking Disclosure Requirements
21 FEBRUARY 2014 NEW ZEALAND GAZETTE, No. 21 531
(A) the name of that member;
(B) whether or not the assets relating to that member’s insurance business are managed and accounted for as separate funds; and
(C) a description of the insurance business conducted by that member; and
(c) comparative figures for the previous corresponding period for the information that is required to be disclosed under paragraph (a).
3 Banking group’s involvement in securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products
A statement of the nature of the registered bank’s banking group’s involvement in—
(a) the establishment, marketing, or sponsorship of trust, custodial, funds management, and other fiduciary activities;
(b) the origination of securitised assets, and the marketing or servicing of securitisation schemes; and
(c) the marketing and distribution of insurance products.
4 Arrangements to ensure no adverse impacts arising from the activities specified in clause 3
A statement on whether or not arrangements have been put in place to ensure that difficulties arising from the activities specified in clause 3 would not impact adversely on the registered bank’s banking group, and if so, the nature of those arrangements.
5 Amounts represented by activities specified in clause 3(a) and (b)
(1) A statement of the amount as at the balance date of—
(a) funds held in trust by any member of the registered bank’s banking group;
(b) funds under management by any member of the registered bank’s banking group;
(c) funds under custodial arrangements by any member of the registered bank’s banking group (to the extent practicable);
(d) other funds held or managed subject to fiduciary responsibilities by any member of the registered bank’s banking group; and
(e) outstanding securitised assets originated by any member of the registered bank’s banking group.
(2) The information that is required to be disclosed under subclause (1) must include comparative figures for the previous corresponding period.
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NZ Gazette 2014, No 21
✨ LLM interpretation of page content
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Insurance Products and Business Disclosure
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💰 Finance & RevenueInsurance Products, Insurance Business, Banking Group, Affiliated Entities, Financial Disclosure