Regulator gives evidence in fraud trial of insurer's managing director and CFO. The Reserve Bank's regulatory concerns led to its issuing of directions to CBL, allegedly contravened by the accused. The Reserve Bank was told insurer CBL could be under-reserved by at least $300 million in mid-2017, six months before the market became aware of the problems, the High Court has heard. Giving evidence in the fraud trial of CBL managing director Peter Harris and CFO Carden Mulholland , former RBNZ Want to read more? It's easy.

https://www.nbr.co.nz/law/rbnz-told-of-300m-shortfall-in-cbl-reserves/

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