I am a data junkie and it has been tremendously enjoyable working with our Data and Stats team to enhance understanding and reporting on the economy and financial sector. We have doubled supervisory capacity, placed much of it closer to regulated entities in Auckland, and increased the weight on positive assurance and verification; less ‘tell us everything’s ok’, and more ‘show us’.
We’ve also seen the FMIs legislation developed and enacted; we established an Enforcement Department and are building our enforcement framework; and our banking and non-bank deposit taking prudential framework and resolution regime is being overhauled via the Deposit Takers Bill, out for consultation at present.