Trustees Executors gets RBNZ warning for not promptly reporting finance company breach of independent director rules

Trustees Executors has copped a warning from the Reserve Bank over its supervision of the Tony Radisich controlled finance company Broadlands Finance.

In what's touted as a public notice but is actually buried in the bowels of the RBNZ website, the RBNZ says it has warned Trustees Executors for not promptly telling it about Broadlands being in breach of its independent director requirements.

Meanwhile, the Government's response to the RBNZ’s review of its prudential regulatory regime for non-bank deposit takers is a couple of months away.

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