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A trust is an arrangement where a person (the settlor) gives money or property to another person (the trustee), to be held in trust for the benefit of either the trust’s beneficiaries, or a purpose recognised by law. The AML/CFT customer due diligence: trusts fact sheet should be read in conjuction with the beneficial ownership guideline.
Cyber-resilience in FMA-regulated financial services report summarises the findings of our thematic review of cyber-resilience in New Zealand financial services and provides guidance for firms in areas where we have identified the need for improvement. It will be useful for our regulated sectors, to help ensure they comply with our expectations and best practice.
The status of the new Kiwi Access card is considered to be the same as the older 18+ card for the purposes of the IVCOP. This approach is in-line with the Evidence of Identity standard factsheet on the Kiwi Access Card/18+ Card, which treats them as the same form of identification.
The Code of Professional Conduct for Financial Advice Services is prepared in accordance with Part 4 of Schedule 5 of the Financial Markets Conduct Act 2013 (the FMC Act). The Code supports the purposes of the FMC Act including promoting the confident and informed participation of businesses, investors, and consumers in the financial markets, avoiding unnecessary compliance costs, and ensuring the availability and quality of financial advice.
The AML/CFT Monitoring Report summarises our monitoring activities to help firms and individuals better understand our expectations and how they can improve their systems and processes, to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act).
This report summarises our monitoring activities from 1 July 2016 to 30 June 2018, to help reporting entities better understand our expectations, and what they can do to improve their systems and processes to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and its supporting regulations.
MIS manager valuation and pricing practices information sheet sets out our recommendations following a review of the pricing and valuation practices of Managed Investment Scheme (MIS) managers. It will be of particular interest to MIS managers and their supervisors.
Determining whether you are acquiring a business or assets guidance sets out our view of what constitutes a ‘business’ for these purposes, as opposed to an asset. It also sets out additional information issuers should consider disclosing for asset acquisitions.
Class exemptions for managing intermediaries information sheet explains the conditions for reporting entities whose customers include managing intermediaries and customers of managing intermediaries to be able to rely on the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Notice 2018.
The essentials of being an effective director outlines some of the essential behaviours directors should demonstrate to meet legal, regulatory and ethical standards for directors, and tells you where you can go to find out more.
Guidance on the exemption from the market index requirement aims to clarify what we expect of MIS managers in relation to the market index requirement for quarterly fund updates, and the Financial Markets Conduct (Market Index) Exemption Notice 2018.
The Disclosure of significant account estimates information sheet explains our expectations on disclosure of significant accounting estimates. It is part of our work on improving the overall quality of information being disclosed in financial statements.
Improving financial statements monitoring report summarises the findings from our thematic review to determine the extent of improvements in the presentation of financial statements in a clear, concise and effective way, and sets out some suggestions for additional improvement.