Who needs to comply

The Act describes those who need to comply as 'reporting entities'.

To work out if your business is a reporting entity, refer to section 5 of the Act and check our FAQs. Other reporting entities are found in the Anti-Money Laundering and Countering Financing (definitions) Regulations 2011.

The reporting entities supervised by the FMA are listed in section 130 of the Act. They include:

• issuers of securities
• licensed supervisors 
• derivatives issuers and dealers
• DIMS providers
• fund managers
• brokers and custodians
• financial advisers
• equity crowdfunding platforms
• peer-to- peer lenders.

The Reserve Bank supervises banks, life insurers and non-bank deposit takers. The Department of Internal Affairs covers casinos, non-deposit-taking lenders, money changers and reporting entities not covered by the other supervisors.