The New Zealand Bankers’ Association has appointed Stephen Franks as independent reviewer of the New Zealand Code of Banking Practice.
Franks is a leading lawyer who specialises in company and securities law. “We are delighted that Stephen Franks has agreed to review the Code,” said New Zealand Bankers’ Association acting chief executive Karen Scott-Howman.
The Code of Banking Practice is a voluntary code of conduct. It records and communicates to the public the standards of good banking practice that Members of the New Zealand Bankers’ Association will observe to maintain good relationships and communication with customers.
The Code was introduced in 1996. It is reviewed by an independent reviewer every three years to ensure it remains effective and practical. The current Code (July 2007) is available here.
An issues paper, released today, invites comment on how the Code is operating. “It notes some of the issues that might influence the review to make it easier for people to offer informed suggestions on how the Code might be improved. The review is not restricted to the issues paper and people are welcome to comment on any issues they think relevant,” said Scott-Howman.
Comments on the Code review may be made in writing to Stephen Franks by 17 December 2010. Submissions are preferred by email in a Word document to info@franksogilvie.co.nz.
The review is expected to be completed by July 2011 with the publication of a revised Code.
ENDS
For further information please contact Philip van Dyk, Communications Director, on 04 802 3354 or 021 242 0428.
Securities Commission
Commerce Committee
Ministry of Consumer Affairs
Ministry of Consumer Affairs
The Bank of Tokyo-Mitsubishi UFJ Limited has joined the New Zealand Bankers’ Association.
New Zealand Bankers’ Association chief executive Sarah Mehrtens welcomed its new member bank. ‘I am delighted by the Bank of Tokyo-Mitsubishi’s decision to join. The New Zealand Bankers’ Association represents the common interests of the major players in the sector’ said Mehrtens.
The Bank of Tokyo-Mitsubishi has been operating in New Zealand since 2004, prior to which it operated as a branch of a subsidiary from 1996. It is part of the international Bank of Tokyo-Mitsubishi UFJ Limited group, the premier commercial banking arm of the Mitsubishi UFJ Financial Group Inc.
The Bank of Tokyo-Mitsubishi’s Auckland general manager Michael Ryff said the bank wanted to play a full part in the commercial and banking life of New Zealand.
Other New Zealand Bankers’ Association members are ANZ New Zealand (including National Bank), ASB Bank, Bank of New Zealand, Citibank, Hong Kong and Shanghai Banking Corporation, Kiwibank, Rabobank New Zealand, TSB Bank, and Westpac New Zealand.
ENDS
For further information please contact Philip van Dyk, Communications Director, on 04 802 3354 or 021 242 0428.
The New Zealand Bankers Association is urging New Zealanders to be on guard against a telephone bank satisfaction survey scam.
Scammers appear to be phoning people saying they are from the New Zealand Banking Association and they are undertaking a survey on bank satisfaction.
The New Zealand Bankers Association is not undertaking a bank satisfaction survey, said New Zealand Bankers Association Chief Executive Sarah Mehrtens.
It is not clear at this stage where the scammers are going with their line of questions but this bank satisfaction survey looks very much like a scam.
People are reminded to safeguard information relating to their bank accounts, and never to disclose their PIN numbers or account passwords to anyone. I would like to emphasise that the New Zealand Bankers Association, and its member banks, will never ask a customer to disclose their PIN number or account password.
The New Zealand Bankers Association has recently received a small number of reports from people who have been phoned. We are grateful for the public’s vigilance and are not aware of anyone having been taken in by the scam at this stage, said Mehrtens.
We are not aware of an organisation called the New Zealand Banking Association, but the name is very similar to that of the New Zealand Bankers Association.
If the caller appears to have your bank account or credit card details, do not provide them with any information, and contact your bank or credit card provider immediately, said Mehrtens.
If you think you have been scammed, you can report the incident to the Ministry of Consumer Affairs Scamwatch website at https://www.consumeraffairs.govt.nz/report_scam.
ENDS
For further information please contact Philip van Dyk, Communications Director, on 04 802 3354 or 021 242 0428.
Finance and Expenditure Select Committee
Ministry of Justice