New Zealand's financial sector bosses, including the top executives of the Big Four-owned banks, may be hauled in front of a select committee to convince MPs the culture within their organisations truly differs from that in Australia. Finance and Expenditure select committee chair Michael Wood told interest.co.nz that, in the wake of the Hayne royal commission revelations, getting bank executives to front up and face questioning was "an open and live option". Wood said the committee would wait until hearing from the Financial Markets Authority and the Reserve Bank of New Zealand before making a decision. The banks have until this Friday to respond to a letter from the FMA and RBNZ demanding evidence of how they have addressed culture and risk issues, and how their behaviour differs from their Australian parents.