This guide will help issuers of securities and participants in securities issues to determine if they have compliance obligations under the AML/CFT Act and whether FMA is their supervisor.
This guideline clarifies that FMA considers that the interpretation of a financial institution under the AML/CFT Act is not restricted to issues of securities to the public. A business will be 'participating in securities issues' in the ordinary course of business if it participates in a wholesale or retail offer of securities as an issuer and/or a promoter, acting as a trustee, unit trustee, superannuation trustee or collective investment scheme fund manager.
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