AGP Executive Report
Last update: 9 hours agoBudget 2026 (NZ): Finance Minister Nicola Willis unveiled a new prudential levy on banks, non-bank deposit takers, insurers and financial market infrastructure providers to fund the Reserve Bank’s regulatory functions, targeting about $209m over four years and aiming for a mid-2027 start after sector consultation. Banking Compliance: New Zealand’s Reserve Bank filed court proceedings against The Co-operative Bank over three AML/CFT breaches dating back to at least 2020; the parties agreed to recommend a $1.425m penalty. Retail Banking & Advice: JD Power says banks are expanding financial advice tools, but only 47% of customers recall receiving advice and long-term engagement is inconsistent. Digital Assets Regulation (HK): Hong Kong’s HKMA and SFC issued updates allowing licensed firms to offer virtual-asset financing (with strict collateral limits and haircuts) and tightened custody rules, including 98% cold storage. AI & Jobs: ACCA research in Singapore finds 48% of finance professionals fear AI job impact, even as adoption confidence remains high. Public Finance (South Africa): Johannesburg tabled a R97.1bn 2026/27 budget amid ongoing financial strain, with major revenue drivers including electricity, water and property rates. Fraud Prevention (Korea): Toss Bank and the National Police Agency will use retired officers to run community anti-fraud outreach targeting telecom scams.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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