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Compliance Regulations for Financial Institutions in Papua New Guinea: A Guide
As the Bank of Papua New Guinea continues to implement reforms aimed at expanding access and competition within the banking sector, financial institutions must be aware of the compliance regulations that govern their operations. With decades of experience advising on banking and finance matters, Dentons is well-positioned to provide guidance on the regulatory landscape in Papua New Guinea.
The Central Banking Act
The Central Banking Act, drafted by Dentons alongside the Bank of Papua New Guinea, is a key piece of legislation that financial institutions must be familiar with. Our team has extensive knowledge of the Act and its implications for banks, multinational banks, international development banks and agencies, as well as local businesses and individuals.
Regulatory Obligations
Financial institutions in Papua New Guinea face a range of regulatory and compliance obligations, including:
- Regulatory requirements: Banking, superannuation, and consumer finance
- Anti-money laundering and counter-terrorism financing regulations
- Licensing and registration requirements for financial services providers
- Reporting and disclosure obligations
Areas of Expertise
Our team is experienced in advising on these matters, as well as other areas of financial law, including:
- Banking litigation and dispute resolution
- Capital markets, derivatives, and securities
- Consumer and mortgage finance
- Distressed situations and restructuring
- Finance transactions, including asset-based lending and project finance
- Investment Promotion Authority applications
- Personal property security and fund structuring
Cross-Border Transactions
For cross-border transactions, Dentons’ global network of offices provides unparalleled expertise in navigating complex regulatory environments.
Services Offered
Whether you are a financial institution seeking transactional advice, regulatory guidance, or litigation support, our team is dedicated to delivering clear analysis and solutions. Contact us today to learn more about how we can assist with your compliance needs in Papua New Guinea.