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1. Proactive Release – Expiring Anti-Money Laundering and Countering Financing of Terrorism Act 2009 regulations: substantive and technical changes and new regulatory proposals [pdf, 954 KB]

   ...Financing of Terrorism Act 2009 – Expiring Regulations and New Regulatory Proposals Proposal 1. This paper seeks agreement to proposals to issue new and amend expiring Regulations under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009. Executive Summary 2. Two key Regulations issued under the AML/CFT Act expire in the next two years. The AML/CFT (Exemptions) Regulations 2011 expire on 30 June 2020, and the AML/CFT (Definitions) Regulations 2011 par...

2. Proactive Release - Amendments to the Criminal Proceeds (Recovery) Act 2009 [pdf, 2.7 MB]

   ...2022 • 9(2)(h) to maintain legal professional privilege. © Crown Copyright, Creative Commons Attribution 4.0 International (CC BY 4.0) No. Document Comments 5 Criminal Activity Intervention Legislation Some information has been withheld in Bill and Criminal Proceeds (Recovery) accordance with sections: Amendment Bill: Approval for • 9(2)(f)(iv) to protect the confidentiality of Introduction advice; Cabinet paper • 9(2)(g)(i) to protect free and frank advice; Office of the M...

3. 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...

4. 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...

5. JPMorgan Ministerial Exemption [pdf, 64 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: 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...

6. 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...

7. GSNZ Ministerial Exemption [pdf, 65 KB]

   ...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 following conditions: a. The Australia-based AML/CFT compliance officer must administer and maintain the AML/CFT programme of GSNZ; b. The Australia-based AML/CFT compliance officer must report regularly and fully on all relevant AML/CFT compliance matters to the senior management of GSNZ;...

8. JPMorgan Chase Bank N.A. New Zealand Branch [pdf, 73 KB]

   Ministerial Exemptions Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), the Associate Minister of Justice gave notice on 25 July 2018 that he has granted the following exemption from the Act: Ministerial exemption: JPMorgan Chase Bank, N.A (New Zealand Branch) Exempting JPMorgan Chase Bank, N.A (New Zealand Branch) (“JPMorga...

9. Anti-Money Laundering and Countering Financing of Terrorism - Cabinet Paper 2 - Sept 2016 [pdf, 126 KB]

   ...of the Minister of Justice ANTI-MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM REFORMS: PHASE II Proposal 1. To progress the second phase of reforms to New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) regime, I seek Cabinet’s agreement to: 1.1. the early policy decisions outlined in this paper; 1.2. grant me a limited Power to Act to make some further decisions to progress the early decisions; 1.3. issue drafting...

10. Businesses that provide trust and company services

    Criminals often use trusts and companies to launder money. Legitimate businesses that provide trust and company services may be affected by changes to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. To help trust and company service providers understand the risks they face and build their compliance programmes, helpful guidance is available on the Department of Internal Affairs website. See the Codes of practice and guidance and the sector risk assessment...

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