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

Reprint as at 15 July 2016

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 subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

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

In these regulations, unless the context otherwise requires, Act means the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

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:

(a)

a person licensed to be a supervisor or statutory supervisor under the Financial Markets Supervisors Act 2011, when the person acts for itself:

(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

r 8

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

r 9

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 (if applicable):

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:

AML/CFT contact 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 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 physical locations 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 Act). 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 Act?

Meets all/Meets some/Meets none*

*Select one.
4.2

If your risk assessment meets only some of the requirements of section 58 of the Act, 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

When was the most recent internal review of the risk assessment completed? [date]

4.4

Has the risk assessment been independently audited?

Yes/No*

*Select one.
4.5

If yes to 4.4, when was the most recent audit of the risk assessment completed? [date]

4.6

If yes to 4.4, did the most recent audit of the risk assessment highlight any deficiencies?

Yes/No*

*Select one.
4.7

If yes to 4.4 and 4.6, have you made the changes identified as being necessary in the most recent audit?

Yes, complete/Not yet complete*

*Select one.
4.8

During the year, did you make available a new product, service, or channel?

Yes/No*

*Select one.
4.9

If yes to 4.8, before making this product, service, or channel available, did you assess the ML/TF risk?

Yes/No*

*Select one.
5 AML/CFT programme
5.1

Does your AML/CFT programme meet the requirements of section 57 of the Act?

Meets all/Meets some/Meets none*

*Select one.
5.2

If your AML/CFT programme meets only some of the requirements of section 57 of the Act, 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

When was the most recent internal review of the programme completed? [date]

5.4

Has the programme been independently audited?

Yes/No*

*Select one.
5.5

If yes to 5.4, when was the most recent audit of the programme completed? [date]

5.6

If yes to 5.4, did the most recent audit of the programme highlight any deficiencies?

Yes/No*

*Select one.
5.7

If yes to 5.4 and 5.6, have you made the changes identified as being necessary in the most recent audit?

Yes, complete/Not yet complete*

*Select one.
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 Amended Identity Verification Code of Practice 2013)?

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 Act)?

Yes/No*

*Select one.
5.11

Are your reporting entity’s AML/CFT transaction monitoring and account 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 servicesYes/NoEstimate 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
Service provision
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
35Derivatives trading
36Issuing derivatives, including derivatives or futures contracts, contracts for difference (CFDs), margin foreign exchange, forward foreign exchange contracts, and rolling spot contracts
37Providing a brokers’ cash management account
38Providing other brokering services
39Funds management and administration of superannuation and KiwiSaver funds
40

Funds management and administration of retail and wholesale funds, including—

(a)

unit trusts, PIE, hedge funds, option funds, commodity funds, fund of funds, foreign unit trusts, group investment funds, collective investment schemes, and listed investment trusts:

(b)

property investment schemes, land investment products, property syndicates, forestry syndicates, listed property trusts, unlisted property trusts, and real estate investment trusts:

(c)

venture capital and private equity funds:

(d)

exchange traded funds (ETFs):

(e)

all other funds (list these types in the notes section in Part 6)

41Discretionary investment management services (including class and personalised)
42Financial advice or financial planning
43Custodian services
44Issuing debt securities (including investment grade bonds, below investment grade bonds, warrants, perpetual or subordinated debt, structured debt issues (such as collateralised debt obligations (CDOs) and mortgage backed securities), and capital guaranteed and capital protected investments)
45Issuing equity securities (including ordinary and preference shares, and private equity)
46Supervisory activities
46ATreasury functions (including services provided between related entities)
46BOperating a financial product market
46CPeer-to-peer lending services
46DCrowd funding services
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)
Total100
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 a trust or another vehicle for holding personal assets? [number]

7.4

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

7.5

Estimate, as at the end of the reporting period, the percentages of the following types of customers:

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 (exclude your reporting entity’s employees)
4Overseas intermediaries/agents/third-party referral (exclude your reporting entity’s employees)
5Other (list these other methods of acceptance in the notes section in Part 6)
Total100

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 countriesHigher-risk countriesOther/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):

NumberValue ($)
RB 5Domestic (New Zealand) receipts and payments
RB 6International receipts and payments
10 Questions from Financial Markets Authority
10.1

Identify the sub-sector(s) that your reporting entity belongs to: issuer of securities/licensed supervisors/fund managers/brokers and custodians/financial advisers/derivative issuers/DIMS providers/peer-to-peer lenders/equity crowd funding service providers/other (specify in the notes section in Part 6)*

*Select all that are relevant.
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 countryAverage 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 countryAverage 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 institutionMonthly $ average as a beneficiary institutionMonthly $ average as an intermediary institution
Cashn/an/an/a
Bearer negotiable instrumentsn/an/an/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 Act.)

Date signed:

Signature:

Full name:

Position/Job title:

Schedule 2 form: amended, on 15 July 2016, by regulation 4(2) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(3)(a) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(3)(b) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(4) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(5) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(6) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(7) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(8) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(9) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(10) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(11) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(12) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(13) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(14) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(15) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(16) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(17) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(18) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(19) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(20) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(21) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(22) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(23) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 2 form: amended, on 15 July 2016, by regulation 4(24) of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations 2016 (LI 2016/125).

Schedule 3 Formal warning report

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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

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.