RBNZ streamlines external whistleblowing policy

“Whistleblowing is a critical avenue for those wanting to shine a light on wrongdoing within regulated entities,” Head of Supervision Andy Wood says.

The Reserve Bank of New Zealand (RBNZ) has streamlined its external whistleblowing policy for those employed by regulated entities.

Individuals currently or formerly employed by insurers, banks or non-bank deposit takers regulated by the Reserve Bank, who have witnessed or become aware of misconduct within their organization, can now report this directly to the Reserve Bank via a designated email address and phone number.

"Whistleblowing is a critical avenue for those wanting to shine a light on wrongdoing within regulated entities," Head of Supervision Andy Wood says."Exposing such behavior is the first step to resolving it, and is critical to maintaining trust and confidence in the country's insurers, banks or non-bank deposit takers."

Examples of misconduct include:

• criminal offenses

• a breach of a legal obligation

• a miscarriage of justice

• deliberate covering up of any wrongdoing

• dishonest or unethical behavior by an individual

• concerns that pose a danger to the public or financial system

Potential whistleblowers are encouraged to refer to their organization's internal whistleblowing policy before making a report to the Reserve Bank. If this option is not available, potential whistleblowers should contact the Reserve Bank directly.