Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011

Reprint
as at 1 December 2014

Coat of Arms of New Zealand

Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011

(SR 2011/225)

Anand Satyanand, Governor-General

Order in Council

At Wellington this 27th day of June 2011

Present:
His Excellency the Governor-General in Council


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this official reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

These regulations are administered by the Ministry of Justice.


Pursuant to sections 14(d), 18(2)(f), 23(b), 27(2), 60(2)(c), and 153 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

Regulations

1 Title
  • These regulations are the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011.

2 Commencement
  • These regulations come into force on 30 June 2013.

3 Interpretation

Standard customer due diligence

4 Existing anonymous accounts: other circumstances
  • For the purposes of section 14(d) of the Act, as soon as practicable after a reporting entity becomes aware that an existing account is anonymous, a circumstance occurs in which the reporting entity must conduct standard customer due diligence in respect of that account.

Simplified customer due diligence

5 Entities that are customers for purposes of section 18(1) of Act
  • (1) For the purposes of section 18(1) of the Act, each of the following persons is a customer:

    • (b) a trustee corporation, within the meaning of section 2(1) of the Administration Act 1969, when it acts for itself:

    • (c) a Crown entity:

    • (d) an organisation named in Schedule 4 of the Public Finance Act 1989:

    • (da) a company named in Schedule 4A of the Public Finance Act 1989:

    • (e) a government body that—

      • (i) corresponds to a government department named in Schedule 1 of the State Sector Act 1988; and

      • (ii) is located in an overseas jurisdiction with sufficient anti-money laundering and countering financing of terrorism systems and measures in place:

    • (f) a registered bank within the meaning of section 2(1) of the Reserve Bank of New Zealand Act 1989:

    • (g) a licensed insurer within the meaning of section 6(1) of the Insurance (Prudential Supervision) Act 2010:

    • (h) a company whose equity securities are listed on an overseas stock exchange that has sufficient disclosure requirements and is located in a country with sufficient anti-money laundering and countering financing of terrorism systems and measures in place.

    (2) In this regulation, Crown entity has the same meaning as in section 7(1) of the Crown Entities Act 2004.

    Regulation 5(1)(a): replaced, on 1 December 2014, by regulation 4 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2014 (LI 2014/324).

    Regulation 5(1)(da): inserted, on 18 July 2013, by section 57 of the Public Finance Amendment Act 2013 (2013 No 50).

    Regulation 5(1)(f): inserted, on 30 June 2013, by regulation 4(2) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

    Regulation 5(1)(g): inserted, on 30 June 2013, by regulation 4(2) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

    Regulation 5(1)(h): inserted, on 30 June 2013, by regulation 4(2) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

Enhanced customer due diligence

5A Enhanced customer due diligence required for certain transactions requiring suspicious transaction report
  • (1) This regulation applies to a transaction—

    • (a) that the reporting entity concerned is required to report to the Commissioner under section 40 of the Act; and

    • (b) that is not otherwise exempt from the customer due diligence requirements or from all the requirements of the Act; and

    • (c) that is conducted, or sought to be conducted,—

      • (i) by an existing customer; or

      • (ii) by a customer with whom the reporting entity has not established a business relationship, in any case where the transaction is below the applicable threshold value for an occasional transaction.

    (2) For the purposes of section 22(1)(e) of the Act, as soon as practicable after a reporting entity becomes aware that the reporting entity must report the occasional transaction under section 40 of the Act, a circumstance occurs in which the reporting entity must conduct enhanced customer due diligence in respect of that transaction.

    Regulation 5A: inserted, on 30 June 2013, by regulation 5 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

6 Identity requirements: additional information about beneficiaries of trusts
  • (1) In the case of a customer that is a trust other than a trust to which subclause (2) applies, a reporting entity must obtain, under section 23(b) of the Act, the name and the date of birth of each beneficiary of the trust.

    (2) If the customer is a trust that is a discretionary trust or a charitable trust or that has more than 10 beneficiaries, the reporting entity must obtain a description of—

    • (a) each class or type of beneficiary:

    • (b) if the trust is a charitable trust, the objects of the trust.

7 Other identifying information prescribed in relation to wire transfers
  • (1) Information that gives the name of the beneficiary of a wire transfer and the account number of that beneficiary or any unique transaction reference that allows the transaction to be traced is prescribed for the purposes of section 27(1)(d) of the Act.

    (2) In the case of a domestic wire transfer, any information that enables the transaction itself to be identified and traced to the originator is prescribed to be other identifying information for the purposes of section 27(2) of the Act.

    Regulation 7: replaced, on 30 June 2013, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

8 Details to be contained in written suspicious transaction report
  • Every written suspicious transaction report under section 40 of the Act must contain the details set out in Schedule 1.

    Regulation 8: replaced, on 30 June 2013, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

9 Prescribed form for annual report under section 60 of Act
  • An annual report under section 60 of the Act must be in the form set out in Schedule 2.

    Regulation 9: inserted, on 30 June 2013, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

10 Prescribed form for formal warnings
  • Every formal warning issued under section 80 of the Act must be in the form set out in Schedule 3.

    Regulation 10: inserted, on 30 June 2013, by regulation 6 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).


Schedule 1
Details to be contained in suspicious transaction report

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  • Schedule 1: replaced, on 30 June 2013, by regulation 7 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

  • 1 General:

    • (a) signature of person authorised by the reporting entity to sign the suspicious transaction report (the STR) (unless the report is forwarded by email or another similar means of communication):

    • (b) name of person authorised by the reporting entity to sign the STR:

    • (c) name of reporting entity:

    • (d) business address of reporting entity:

    • (e) name of the reporting entity’s AML/CFT supervisor:

    • (f) statement of the grounds on which the reporting entity holds the suspicions referred to in section 40(1)(b) of the Act.

  • 2 For each transaction or proposed transaction:

    • (a) branch or location where the transaction took place or was proposed to take place:

    • (b) date and time of transaction or proposed transaction:

    • (c) mode of transaction or proposed transaction (eg, in person, electronic):

    • (d) type of funds (eg, cash, cheque, securities, deposit, casino chip):

    • (e) amount of transaction in NZD.

  • 3 For each customer conducting or seeking to conduct a transaction, or person acting on behalf of any such customer:

    • (a) name:

    • (b) date of birth (if applicable):

    • (c) if not the customer, the person’s relationship to the customer:

    • (d) address or registered office:

    • (e) company identifier or registration number (if applicable):

    • (f) whether the customer is a politically exposed person:

    • (g) source of wealth or funds of customer (if applicable):

    • (h) details of any relevant documents or other evidence that may be used to verify the identity of the person and the person's authority to act on behalf of the customer (if applicable):

    • (i) information on the proposed nature and purpose of the proposed business relationship between the reporting entity and customer (if applicable).

  • 4 Any beneficial owners of a customer (if applicable):

    • (a) name:

    • (b) date of birth:

    • (c) person’s relationship to the customer:

    • (d) address:

    • (e) whether the beneficial owner is a politically exposed person:

    • (f) details of any relevant documents or other evidence that may be used to verify the identity of a beneficial owner (if applicable).

  • 5 Details for each customer that is a trust (if applicable):

    • (a) where the customer is a trust other than a trust specified in paragraph (b), the name and date of birth of each beneficiary of the trust:

    • (b) in relation to a discretionary trust, charitable trust, or trust with more than 10 beneficiaries, a description of each type or class of beneficiary:

    • (c) the objects of any charitable trust.

  • 6 Details of wire transfers (if applicable), information in paragraphs (a) to (c) is to be provided where reporting entity is the ordering institution:

    • (a) if the transaction or proposed transaction is a domestic wire transfer or involves a domestic wire transfer, the originator’s account number or any other information that enables the transaction itself to be identified and traced to the originator:

    • (b) if the transaction or proposed transaction is not a domestic wire transfer,—

      • (i) originator’s full name:

      • (ii) originator’s account number or other identifying information that is prescribed and that allows the transaction to be traced back to the originator:

      • (iii) name of the beneficiary:

      • (iv) beneficiary's account number or the beneficiary's unique transaction reference number:

      • (v) country where the account is held:

    • (c) one of the following:

      • (i) originator’s physical address:

      • (ii) originator’s national identity number:

      • (iii) originator’s customer identification number:

      • (iv) originator’s place and date of birth:

    • (d) information to be provided where reporting entity is the beneficiary institution:

      • (i) beneficiary’s full name; and

      • (ii) beneficiary’s date of birth; and

      • (iii) beneficiary’s address.

  • 7 For each account or arrangement involved in the transaction or proposed transaction:

    • (a) if operated by the reporting entity or another member of a designated business group (DBG):

      • (i) type and identifying number of the account or arrangement:

      • (ii) for each person in whose name the account or arrangement is operated, the name, date of birth, relationship to customer (if applicable), address, and the company identifier or registration number (if applicable):

      • (iii) name, date of birth, address, and relationship to customer of each signatory to the account or arrangement:

    • (b) information on any other facilities involved in the transaction but not provided by the reporting entity or another member of a DBG.

Schedule 2
Annual AML/CFT report

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  • Schedule 2: inserted, on 30 June 2013, by regulation 7 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

Form
Annual AML/CFT report

Part 1

Answer all questions in this Part.

1 Period of report
  • 1.1 Period that this report covers: [specify]

    Note: This is the period referred to as “during the year” or “at the end of the year” by this form.

2 Contact details
  • Entity registration details
  • 2.1 The reporting entity's legal name:

    Registered or company incorporation number (or equivalent):

    FSPR number (refer to New Zealand’s Financial Service Providers Register):

    Registered charity number (if applicable):

    Trading name(s):

  • Physical address
  • 2.2 Street name and number:

    Suburb/town:

    City:

    Postcode:

  • Postal address (if different from physical address)
  • 2.3 Street name and number or PO Box:

    Suburb/town:

    City:

    Postcode:

  • Other contact details
  • 2.4 AML/CFT compliance officer (full name):

    AML/CFT contact telephone number (if available):

    AML/CFT email address (if available):

    Website (if available):

3 Organisation structure
  • 3.1 Is this reporting entity a branch or a subsidiary? Yes/No

    If yes, specify: [branch/subsidiary]

  • 3.2 In what country is your largest owner based? [country]

  • 3.3 Number of physical branch locations in New Zealand (exclude agent’s office locations. If none, record nil): [number/nil]

  • 3.4 Number of New Zealand subsidiaries (or nil): [number/nil]

  • 3.5 Number of branches outside New Zealand (or nil): [number/nil]

  • 3.6 Number of subsidiaries outside New Zealand (or nil): [number/nil]

Part 2

Answer all relevant questions.

Note: A member of a designated business group (DBG) can rely on another member to carry out some obligations on their behalf, as set out in section 32 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act 2009). These include risk assessments and parts of an AML/CFT Programme. If you are a member of a DBG you may allow another member to answer this Part on your behalf. However, please note that you are responsible for the information provided. If you are eligible, use the Notes in Part 6 of this form to state this, together with the legal name and registered number of the member answering this Part on your behalf. Then leave this Part blank and go to Part 3. You are required to answer all other parts of this form.

4 AML/CFT risk assessment
  • 4.1 Does your risk assessment meet the requirements of section 58 of the AML/CFT Act 2009?

    Meets all/Meets some/Meets none*

    *Select one.
  • 4.2 If your risk assessment does not meet all of the requirements of section 58 of the AML/CFT Act 2009, please list all subsections that it is not fully compliant with (eg, sections 58(1), 58(2)(a)–(h), 58(3)(a)–(c)). (Use commas to separate each entry.) [list]

  • 4.3 Is a procedure in place for an independent audit of the risk assessment every 2 years?

    Yes/No*

    *Select one.
  • 4.4 When was the most recent review of the risk assessment completed? [date]

  • 4.5 When was the most recent audit of the risk assessment completed? [date]

  • 4.6 Did an audit of your risk assessment (conducted since your last annual report) highlight any deficiencies?

    Yes/No*

    *Select one.
  • 4.7 Have you made the changes identified in the most recent audit as being necessary?

    Not applicable†/Yes, complete/Not yet complete*

    *Select one.
    †Do not select “not applicable” if you have answered Yes to question 4.6 above.
  • 4.8 Before making a product, service, or channel available, is there a process to assess the AML/CFT risk (eg, new or developing technologies, products that favour anonymity)?

    Yes/No*

    *Select one.
5 AML/CFT programme
  • 5.1 Does your AML/CFT programme meet the requirements of section 57 of the AML/CFT Act 2009?

    Meets all/Meets some/Meets none*

    *Select one.
  • 5.2 If your AML/CFT programme does not meet all the requirements of section 57 of the AML/CFT Act 2009, please list all paragraphs that it is not fully compliant with. Use commas to separate each entry: [list relevant paragraphs from section 57(a) to (l)]

  • 5.3 Is a procedure in place for an independent audit of the AML/CFT programme every 2 years?

    Yes/No*

    *Select one.
  • 5.4 When was the most recent review of the AML/CFT programme completed? [date]

  • 5.5 When was the most recent audit of the AML/CFT programme completed? [date]

  • 5.6 Did an audit of your AML/CFT programme (conducted since your last annual report) highlight any deficiencies?

    Yes/No*

    *Select one.
  • 5.7 Have you made the changes identified as being necessary in the latest audit?

    Not applicable†/Yes, complete/Not yet complete*

    *Select one.
    †Do not select “not applicable” if you have answered yes to question 5.6 above.
  • 5.8 Do you have procedures to identify and verify the identity of—

    • (a) a new customer (including the customer's beneficial owners or any person acting on behalf of a customer)?

      Yes/No*

      *Select one.
    • (b) a person seeking to conduct an occasional transaction through your reporting entity?

      Yes/No*

      *Select one.
    • (c) an existing customer, according to the level of risk involved, if there has been a material change in the nature or purpose of the business relationship and your reporting entity considers that it has insufficient information about the customer?

      Yes/No*

      *Select one.
  • 5.9 Do you have exception handling procedures for issues related to customer due diligence (CDD) (eg, clause 4 of the Identity Verification Code of Practice 2011)?

    Yes/No*

    *Select one.
  • 5.10 Outside a DBG, do you outsource any CDD requirements to third parties (as set out in sections 32 to 34 of the AML/CFT Act 2009)?

    Yes/No*

    *Select one.
  • 5.11 Are your reporting entity’s AML/CFT transaction monitoring processes best described as electronic, manual, or a combination of both?

    Electronic/Manual/Electronic and Manual*

    *Select one.

Part 3

Answer all questions in this Part.

6 Products and services
  • 6.1 Estimate the value and number of all transactions settled by your reporting entity during the year. Add the number of receipts and payments together, record the total number, and repeat for value—

    Gross number of transactions: [number]

    Gross value of transactions (NZD): $[amount]

  • 6.2 If your reporting entity offers the products and services listed in the table below, enter yes and estimate the proportion of annual revenue of your business during the year:

     Products and services Yes/No Estimate percent of annual revenue of your business (%)
     Domestic    
    1Domestic account and deposit taking services    
    2Domestic lending (excluding residential mortgages and motor vehicle finance)    
    3Residential mortgage lending    
    4Motor vehicle finance    
    5Debt instrument/bonds    
    6Finance and leasing    
    7Government/specialist finance and leasing    
    8Domestic wire transfer/electronic funds transfer services    
     International    
    9International wire transfer/electronic funds transfer services    
    10International mobile telephone transfer services    
    11Forex trading and multi-currency and foreign currency accounts    
    12Foreign currency/money exchange services    
    13Issuing travellers cheques and bearer negotiable instruments    
    14Cashing travellers cheques and bearer negotiable instruments    
    15International correspondent banking    
    16Trade finance and related bonds/guarantees, forfeiting, and export/import finance    
     Trust and company service providers (TCSPs)    
    17Company formation    
    18Trust formation    
    19Provider of office services (including registered address, virtual office, serviced offices, and phone/mail forwarding)    
    20Nominee director/company secretary services/partner services    
    21Nominee shareholder services    
    22Professional trustee services    
     Providing services and advice    
    23Debt collection    
    24Factoring services    
    25Cash transport or courier services    
    26Safe deposit boxes, cash storage    
    27Payroll remittance services    
    28Securities registry duties and other fiduciary duties associated with securities/debt issuance    
     Cash and card services    
    29Credit cards (as card issuer only)    
    30Credit cards (all other roles)    
    31Card merchant facilities    
    32Cash transactions (excluding ATM withdrawals, foreign currency)    
    33Stored value instruments/cards    
     Investing    
    34Sharebroking    
    35Futures and options    
    36Other derivatives    
    37Brokers' cash management accounts    
    38Funds management and administration of retail and wholesale funds (other than superannuation and KiwiSaver funds but including all other funds—unit trusts, WRAPS, PIE, index funds, hedge funds, etc)    
    39Fund management of retail and wholesale superannuation and KiwiSaver funds    
    40Financial planning    
    41Financial advice    
    42Custodian services    
    43Registry services    
    44Estate administration    
    45Treasury functions (including services provided between related entities)    
    46Issuer of securities to the public    
     Life insurance    
    47Term life insurance    
    48Permanent (whole life, universal, limited-pay, endowment, accidental death)    
    49Other life-related products and services associated with annuities, surrender options, etc)    
    50Reinsurance associated with life insurance    
     Casinos    
    51Conducting electronic international money transfers in    
    52Conducting electronic international money transfers out    
    53Conducting electronic domestic money transfers in    
    54Conducting electronic domestic money transfers out    
    55Foreign currency exchange in (including travellers cheques and cash)    
    56Foreign currency exchange out    
    57Cash take from table games (including chip purchase vouchers)    
    58Cash take from electronic gaming machines (including tickets/tokens)    
    59Do you have foreign holding accounts?   n/a
    60If yes, specify number [number]    
    61Do you have domestic casino operating accounts?   n/a
    62If yes, specify number and locations [number, locations]    
    63Do you have cheque cashing facilities?   n/a
    64If yes, specify number during the year and average value [number, average value]    
    65Do you offer stored value instruments? (do not include casino chips)    
    66If yes, what sort of stored value instrument is it? [describe]   n/a
    67What estimated percentage of your gambling activity utilises stored value instruments?    
    68Debit/credit card facilities out (exclude food and beverage purchases)    
    69Cheque in    
    70Cheque out    
     Other    
    71Loyalty schemes provided, e-cash, and virtual credit provided    
    72Auction house    
    73Online auctions    
    74Other relevant products/services (and list these in notes in Part 6, together with estimates)    
     Total   100
7 Customers/members
  • 7.1 Estimate the number of customers your reporting entity had a business relationship with during the year: [number]

  • 7.2 How many customers (question 7.1 above) are classified as politically exposed persons (PEP)? (Include your customers that are beneficially owned, controlled by, or for the benefit of a PEP.) [number]

  • 7.3 How many customers (question 7.1 above) are trusts or other vehicles for holding personal assets? [number]

  • 7.4 How many customers (refer question 7.1 above) are non-residents? [number]

  • 7.5 If customers are non-residents, estimate percentages as at the end of the year [%]:

     Types of customerEstimate percentages as at end of the year for: (%)
    1New Zealand resident individuals 
    2Non-resident individuals 
    3New Zealand resident entities (including companies, partnerships, trusts, charities, and incorporated/ unincorporated entities) 
    4Non-resident entities (including companies, partnerships, trusts, charities, and incorporated/ unincorporated entities) 
    5Overseas government bodies (or similar) 
    6Other (and list these types in the notes section in Part 6) 
     Total100
8 Channels
  • 8.1 Estimate the proportion of your new customers who were accepted via the following methods during the year:

     Methods of acceptance %
    1Face-to-face (over the counter, other than intermediaries)  
    2Non face-to-face (including electronic, telephone, post, and all other types of remote access—other than intermediaries)  
    3Domestic intermediaries/agents/third-party referral (excluding employees acting as advisers working outside of main offices)  
    4Overseas intermediaries/agents/third-party referral (excluding employees acting as advisers working outside of main offices)  
    5Other  
     Total 100

Part 4

Answer all questions from your relevant AML/CFT supervisor, which is —

  • the Reserve Bank of New Zealand; or

  • the Department of Internal Affairs; or

  • the Financial Markets Authority.

9 Questions from Reserve Bank of New Zealand
  • Institutions that your reporting entity deals with
  • 9.1 For this section,—

    • (a) count the number of relationships you have, according to the 4 types stated in the table in question 9.2; and

    • (b) use your own country risk assessment document to categorise these relationships into the 3 categories stated in the table in question 9.2; and

    • (c) record the version and date of your country risk assessment in the notes to Part 6.

  • 9.2 Count your relationships with all entities for the purpose of establishing accounts, authenticating instructions, and providing payment or other clearing-related services and provide the results in the following table:

       Lower-risk or medium-risk countries Higher-risk countries Other/unknown-risk countries
    RB 1Correspondent banking relationships (cross-border only)      
    RB 2Other respondents (including partial-SWIFT key/RMA, telex and all alternative and non-electronic channels) (domestic and cross-border)      
    RB 3Relationships where there is a written agreement (ie, lending syndication, card payment programme, mobile banking, etc)      
    RB 4Other relationships relevant to the delivery of products and services      
  • Transactions
  • 9.3 Using your answers to the question in 6, estimate the gross value and number of transactions settled during the year for the following (add all receipts and record the total):

       Number Value ($)
    RB 5Domestic (New Zealand) receipts and payments    
    RB 6International receipts and payments    
10 Questions from Financial Markets Authority
  • 10.1 Identify which sub-sector your reporting entity belongs to:

    trustee corporation/futures dealer/collective investment scheme manager/broker/authorised financial adviser/issuer of securities*

    *Select one.
  • 10.2 Refer to your previous answer to question 7.4 (“how many of your total customers are non-resident customers?”). List the top 5 countries (high to low in descending order) according to where the largest numbers of your non-resident customers are: [list]

11 Questions from Department of Internal Affairs
  • Money remittance and mobile phone remittance
  • 11.1 Name the 3 countries your business receives the most transactions from, and estimate the average monthly number of inward transactions:

     Name of country Average monthly number of transactions ($)
    1   
    2   
    3   
  • 11.2 Name the 3 countries your business sends the most transactions to, and estimate the average monthly number of outward transactions:

     Name of country Average monthly number of transactions ($)
    1   
    2   
    3   
  • 11.3 Do you provide the following payment methods? If yes, estimate the average monthly value of all transactions settled during the year (Enter nil or value):

     Total monthly average (NZD$) Monthly $ average as an ordering institution Monthly $ average as a beneficiary institution Monthly $ average as an intermediary institution
    Cash  n/a n/a n/a
    Bearer negotiable instruments  n/a n/a n/a
    Domestic wire transfers/electronic funds transfers       
    Foreign wire transfers/electronic funds transfers       
  • Trust and company service providers (TCSPs)
  • 11.4 Estimate the total number of clients currently on your books: [number]

  • 11.5 State the number of full-time-equivalent staff you employ: [number]

  • 11.6 Do you incorporate companies or form any type of entity/trust in overseas jurisdictions (outside New Zealand)?

    Yes/No*

    *Select one.

    If Yes, list all countries: [list]

  • 11.7 Do you handle the receipt and transmission of client money?

    Yes/No*

    *Select one.
  • 11.8 Do you manage clients' bank accounts?

    Yes/No*

    *Select one.
  • 11.9 For your clients that are corporations with shares in bearer form, do your policies provide for maintaining the physical control of those bearer shares to ensure that ownership of the corporate entity does not change without your knowledge?

    Yes/No*

    *Select one.
  • Providers of safe deposit boxes
  • 11.10 Estimate the total number of safe deposit boxes you currently have in use: [number]

  • 11.11 Estimate the average number of times these boxes are accessed each month: [number]

Part 5

12 Conditions of ministerial exemption
  • 12.1 Have you been granted any ministerial exemption that is subject to conditions?

    Yes/No*

    *Select one.
  • 12.2 Please provide a description of your compliance with all conditions on any such exemption.

Part 6

Answer all questions

Your notes here: [notes]

Declaration and signature

I confirm that I have the authority to submit this report on behalf of the reporting entity. I have reviewed the answers and information and I confirm that I am satisfied that, to the best of my knowledge, after undertaking all reasonable inquiries, all answers are true and correct.

A reminder: “A person commits an offence if, without reasonable excuse, the person provides information to an AML/CFT supervisor knowing that information to be false or misleading in any material respect”. (See section 103 of the AML/CFT Act 2009.)

Date signed:

Signature:

Full name:

Position/Job title:

Schedule 3
Formal warning report

r 10

  • Schedule 3: inserted, on 30 June 2013, by regulation 7 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2013 (SR 2013/232).

Form
Formal warning report

[Date]

To [name and address of person or reporting entity]

Formal warning for purposes of section 80 of Anti-Money Laundering and Countering Financing of Terrorism Act 2009

We have reasonable grounds to believe that you have engaged in conduct that constitutes a civil liability act under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act). You are required to comply with your obligations under the Act at all times.

Details of the conduct are as follows:

[Specify details of events or actions that occurred, including dates or time periods.]

[Specify relevant sections of the Act or regulations.]

The following action(s) are required to ensure compliance with the Act:

[Specify details of action required—eg, cease action, take steps, etc. Also time period for action to be taken.]

If you continue to engage in conduct that constitutes a civil liability act, or you do not take the actions required, civil or criminal enforcement action may be taken under the Act. This may result in (but is not limited to) the imposition of—

  • civil penalties of up to $200,000, in the case of an individual, and $2 million, in the case of a body corporate; and

  • criminal penalties of imprisonment for up to two years or a fine of up to $300,000, in the case of an individual, and $5 million, in the case of a body corporate.

Please note that issuing this formal warning notice to you does not affect the [relevant AML/CFT supervisor's] ability to consider or impose other appropriate sanctions under the Act.

If you believe the facts as stated in this notice are incorrect or incomplete, please contact us by [date].

Signature:

[Name of officer from relevant AML/CFT supervisor]

[Name of relevant AML/CFT supervisor]

Rebecca Kitteridge,
Clerk of the Executive Council.


Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 30 June 2011.


Reprints notes
1 General
  • This is a reprint of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011 that incorporates all the amendments to those regulations as at the date of the last amendment to them.

2 Legal status
  • Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes