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1. Exposure Draft - AML/CFT Early Regulations Package [pdf, 220 KB]

   ...business or profession provides relevant service to repeat customer outside of ongoing business relationship 22 12G Customer due diligence requirements for when relevant service not initially provided 22 38 New regulations 14 to 40 inserted 23 14 AML/CFT supervisor must approve designated business group 23 15 Prohibition on correspondent banking relationship with bank registered in Democratic People’s Republic of Korea 23 16 Further condition relating to reliance on reporting entity o...

2. Consultation Document - AML/CFT Early Regulatory Package Exposure Draft February 2023 [pdf, 494 KB]

   AML/CFT ‘Early’ Regulatory Package Exposure Draft of the regulations February 2023 AML/CFT ‘Early’ Regulatory Package: Exposure Draft February 2023 Overview The Ministry of Justice has concluded its statutory review of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 and broadly found that the Act provides a sound regulatory regime that provides the basis to detect and deter money laundering and terrorism financin...

3. Phase 2 AML/CFT Reforms - Exposure draft amendment Bill - Information Paper [pdf, 446 KB]

   Phase 2 AML/CFT Reforms Exposure draft amendment Bill Information Paper December 2016 About this paper The Government is finalising details of how to implement Phase 2 of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) law, and how the law will work in practice. These details are set out in the exposure draft of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill (see Appendix 3). Phase 1 of...

4. Proactive release – Documents relating to Implementing the recommendations of the AML/CFT statutory review [pdf, 2.6 MB]

   Hon Kiri Allan Minister of Justice Proactive release – Documents relating to Implementing the recommendations of the AML/CFT statutory review Date of issue: 22 March 2023 The following documents have been proactively released in accordance with Cabinet Office Circular CO (18) 4. Some information has been withheld on the basis that it would not, if requested under the Official Information Act 1982 (OIA), be released. Where that is the case, the relevant sectio...

5. Submissions Analysis of the Exposure Draft Amendment Bill for Phase 2 of the AML/CFT Reforms [pdf, 8 MB]

   1 Submissions Analysis of the Exposure Draft Amendment Bill for Phase 2 of the AML/CFT Reforms Prepared for: Ministry of Justice March 1, 2017 2 Contents Main themes 3 Introduction 6 Phase 2 businesses and professions 7 Lawyers and conveyancers 7 Accountants 8 Real estate 8 Gambling 9 High value goods 9 Proposed changes that affect compliance costs 11 Suspicious activity reporting 11 Designated Business Groups 13...

6. Proactive Release - Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT): High-Value Dealer Regulations [pdf, 1.9 MB]

   © Crown Copyright, Creative Commons Attribution 4.0 International (CC BY 4.0) Hon Andrew Little Minister of Justice Proactive Release – Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT): High-Value Dealer Regulations Date of issue: 8 August 2019 The following documents have been proactively released in accordance with Cabinet Office Circular CO (18) 4. Some information has been withheld on the basis that it would not, if requested under the Official Inf...

7. Ministerial Exemption Notice: Travelex Financial Services New Zealand Ltd [pdf, 211 KB]

   Ministerial exemption: Travelex Financial Services NZ Ltd 1. In my capacity as the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (the Act), I grant Travelex Financial Services NZ Limited (Travelex NZ) an exemption from section 56(2) of the Act, in so far as the AML/CFT compliance officer must be an employee of the reporting entity. 2. This exemption is granted s...

8. Exemption order Goldman Sachs NZ Limited [pdf, 51 KB]

   ...Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (‘the Act’), I exempt the GSNZ Reporting Entities (as that term is defined in 2 below) from section 56(2) of the Act, in so far as the AML/CFT compliance officer must be an employee of the reporting entity. 2 ‘GSNZ Reporting Entities’ means: a. Goldman Sachs New Zealand Limited; and b. each company incorporated in New Zealand which is (i) directly or indirectly...

9. JPMorgan Ministerial Exemption [pdf, 64 KB]

   ...Exemption: JPMorgan Chase Bank, N.A (New Zealand Branch) Exempting JPMorgan Chase Bank, N.A (New Zealand Branch) (“JPMorgan”) from: a. Section 56(2) of the Act. The exemption is subject to the following conditions: a. The Australia-based AML/CFT compliance officer must administer and maintain the AML/CFT programmes of JPMorgan: b. The Australia-based AML/CFT compliance officer must report regularly and fully on all relevant AML/CFT compliance matters to JPMorgan’s senior manag...

10. Exemption order First State Investment NZ Limited [pdf, 27 KB]

    ...the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (‘the Act’), I exempt First State Investment (NZ) Limited (FSINZL) from section 56(2) of the Act in so far as the AML/CFT compliance officer must be an employee of the reporting entity. The exemption is made in this case to allow the AML/CFT compliance officer to be an employee of an Australian entity that is a member of the Commonwealth Bank of Australia g...