Workers call for a watchdog role in finance sector regulation


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Finance workers should have a direct watchdog role and be the eyes and ears of any new regulation developed to govern the industry.

The global trade union for finance workers, UNI, of which Finsec is an affiliate, has called on world leaders to create a role for finance workers in monitoring and reporting on the implementation of any new regulation to deal with the current financial crisis.

“Bank staff in New Zealand could play a role in such things as the monitoring and implementation of the agreements reached between the government and the major banks on how customers facing mortgage repayment problems are dealt with,” says Finsec Campaigns Director Andrew Campbell.

You can find the UNI media statement and overview of their proposals for a workers’ role in finance industry regulation here:
http://www.finsec.org.nz/media_releases/UNI%20Global%20Union%20PRESS%20RELEASE-E.pdf

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