The AML/CFT risk assessment guideline was updated in 2018 and is designed to help reporting entities conduct a risk assessment, as required under section 58 of the Anti-Money Laundering and Countering Financing of Terrorism Act.
General stocktake of fund updates lets investors know important information about their managed fund, such as how it is performing, what it is costing them, and what their fund is investing in. By law, they must follow a standard format designed to make it easy to compare funds and be understood by non-expert investors.
Fair dealing in advertising and communications – crowdfunding and peer-to-peer lending guidance aims to ensure licensed crowdfunding and peer-to-peer lending platforms understand their obligations when advertising or communicating with customers.
The Corporate governance in New Zealand: Principles and guidelines handbook assists directors, executives and advisers of non-listed and public-sector companies, and other entities, to apply corporate governance principles to their particular entity.
The AML/CFT interpreting 'ordinary course of business' guideline is designed to help clarify the meaning of the phrase "in the ordinary course of business" in the definition of financial institution in the AML/CFT Act 2009. The meaning of this phrase is important if your business conducts one (or more) of the activities listed under the definitions of financial institution”, “designated non-financial business or profession”, and “high-value dealer” in the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).
Bank Bill Benchmark Rate and closing rates resource sheet explains how BKBM and closing rates operate and are regulated in New Zealand. It is aimed at local bank staff involved in trading activity or oversight of trading activity.
Bank Bill Benchmark Rate and closing rates guidance note clarifies the FMA’s expectations about the trading conduct and controls for firms participating in the trading that sets BKBM and closing rates in the New Zealand market.
Guidance on substantial product holder disclosures is for anyone who has, or may have, a substantial holding in a listed issuer, fund management firms and their employees and other interested parties. It aims to assist substantial product holders in understanding their obligations and help to promote consistency in disclosures.
Offering financial products in New Zealand and Australia under mutual recognition (MRSO) guide is for New Zealand and Australian issuers offering financial products or interests in managed or collective investment schemes in both countries.
Fee disclosure by managed funds guidance helps managers and supervisors understand how fees should be disclosed in Product Disclosure Statements, fund updates and, in respect of KiwiSaver schemes, confirmation information.
Disclosing non-GAAP financial information guidance note describse financial information outside of financial statements that is not prepared and presented in accordance with generally accepted accounting practice (GAAP), or is presented as an alternative to statutory profit, as ‘non-GAAP financial information.’
Designation of certain shares to MIPs information sheet explains the class notice which designates certain shares in investment companies as managed investment products, and the company which issues them as a managed investment scheme.
This report aims to:
- Outline how we applied a flexible approach to applications.
- Explain how the minimum standards and FMC Act eligibility criteria fit together.
- Show the linkage between our view of good conduct and the minimum standards in our licensing guides.
- Signal our future focus for monitoring to current licence holders.
- Clarify the ongoing legal obligations for licence holders.
We also want to highlight where we improved our own processes to make licensing faster and more efficient for applicants. Part of this process is more frequent engagement with applicants, including face-to-face meetings early on in the application process.
How the FMC Act will affect co-operative companies and industrial and provident societies that have issued, or intend to issue, co-operative shares information sheet outlines the options for co-operative companies and industrial and provident societies (IPSs) (collectively referred to as co-operatives) offering and managing co-operative shares.