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1. AML/CFT Bill Background Information Document July 2009 [pdf, 122 KB]

   ...ANTI MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM REFORM Background Information Document 16 July 2009 2 Information The Anti-Money Laundering and Countering the Financing of Terrorism Bill (the AML/CFT Bill) is currently before Parliament and is being considered by the Foreign Affairs, Defence, and Trade Parliamentary Select Committee. Submissions on the Bill should be provided to the Foreign Affairs, Defence, and Trade Parliamentary S...

2. Tackling money laundering and terrorist financing

   ...next mutual evaluation by the Financial Action Taskforce (FATF). What legislative changes are being progressed? As well as these structural changes, the Government is progressing the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill improve New Zealand’s anti-money laundering and terrorism financing regime to make the system more risk-based, efficient, and effective.  The Government is also progressing a Statutes Amendment Bill which is also making changes to the...

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3. Implementation of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 - Regulations and Codes of Practice - Discussion Document [pdf, 486 KB]

   ...Regulations and Codes of Practice DISCUSSION DOCUMENT February 2010 2 Table of Contents Information Section One – Introduction 5..........Purpose of this document 6..........The AML/CFT Act 7..........Regulatory regime 8..........Scope of the regulatory framework 9..........Commencement timeframes Section Two – Exemptions, inclusions and thresholds 10.........Exemptions 10.........Temporary exemptions...

4. 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...

5. GSNZ Ministerial Exemption [pdf, 65 KB]

   Ministerial Exemptions Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 In accordance with section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), the Associate Minister of Justice granted the following exemption from the Act: Ministerial Exemption: Goldman Sachs New Zealand Limited Exempting Goldman Sachs New Zealand Limited (“GSNZ”) from: a. Section 56(2) of the Act. The exemption is subject to the...

6. Exposure draft AML/CFT amendment bill [pdf, 270 KB]

   ...New section 49A inserted (Obligation to keep reports of suspicious activities) 21 49A Obligation to keep reports of suspicious activities 21 18 Section 51 amended (Obligation to keep other records) 21 19 Section 57 amended (Minimum requirements for AML/CFT programmes) 22 20 Section 59 replaced (Review and audit of risk assessment and AML/CFT programme) 22 59 Review and audit of risk assessment and AML/CFT programme 22 59A Audit of compliance with AML/CFT obligations 22 59B Who carries o...

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

   Ministerial Exemption: Goldman Sachs New Zealand Limited 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 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. Gol...

8. AML phase II - Business compliance impacts [pdf, 491 KB]

   i Ministry of Justice Phase II Anti-money laundering reforms Business Compliance Impacts September 2016 / Ministry of Justice | Contents ii Contents 1. Introduction 1 2. Executive summary 3 3. Methodology 9 4. Detailed Study Findings 15 5. Statement of Responsibility 25 Other than the Ministry of Justice, any person who obtains access to and reads this report, accepts and agrees, by reading this report, the following terms: 1. The

9. Summary report on workshop feedback on ways to reduce cost compliance [pdf, 7.9 MB]

   ...Countering Financial Terrorism Bill Prepared for: Ministry of Justice February 3, 2017 2 Contents Why we ran the workshops 3 Mixed opinion on when and who does customer due diligence (CDD) in the real estate transaction process 4 The language in the AML/CFT Act needs to be consistent with other Acts 4 Real estate agents rarely receive large cash deposits 4 Participants noted duplication of CDD in the transaction process 4 Real estate agents a...

10. Phase II Anti-money laundering reforms - Business Compliance Impacts [pdf, 495 KB]

    i Ministry of Justice Phase II Anti-money laundering reforms Business Compliance Impacts September 2016 / Ministry of Justice | Contents ii Contents 1. Introduction 1 2. Executive summary 3 3. Methodology 9 4. Detailed Study Findings 15 5. Statement of Responsibility 25 Other than the Ministry of Justice, any person who obtains access to and reads this report, accepts and agrees, by reading this report, the following terms: 1. The