FMA's review of AML/CFT notes 'continued low level' of reporting by NZ firms

Wed, 07 Dec 2016

By Jonathan Underhill Dec. 8 (BusinessDesk) - The Financial Markets Authority says it is "particularly concerned" about continued low levels of reporting by New Zealand financial services firms of suspicious transaction reports under requirements of the Anti-Money Laundering and Countering Financing of Terrorism Act. The FMA is one of three supervisors under the act, with about 800 reporting entities (REs) under its watch, including financial advisers, issuers of securities and derivatives, fund managers, brokers, equity crowd-funders and...

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