Sharesies Limited and Sharesies Nominee Limited

Timeline

August 2021

The FMA formally warned Sharesies Limited and Sharesies Nominee Limited for failing to have sufficient anti-money laundering procedures, policies, and controls in place. The issues were identified during ongoing monitoring of compliance.

The FMA identified the issues with Sharesies as part of its ongoing monitoring of compliance with the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act.

The warning was issued under section 80 of the AML/CFT Act, in which the FMA may issue a formal warning if there are reasonable grounds to believe a firm has engaged in conduct that constitutes a civil liability act.

• Download the formal warning report to Sharesies