27 Aug 2021
RESERVE BANK OF NEW ZEALAND v TSB BANK LIMITED [2021] NZHC 2241
- Citation
- [2021] NZHC 2241
- Court
- High Court
Court found TSB had committed the admitted breaches across four categories, accepted that proposed starting points were generally at the high end of permissible ranges but increased the cooperation discount to at least 25% and applied a modest totality adjustment, and therefore imposed a pecuniary penalty of NZD 3,500,000 apportioned NZD1,000,000; NZD1,062,500; NZD875,000; and NZD562,500 respectively.