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Trading firm wanted 'bendier' compliance officer

Dan Brunskill
Mon, 13 Sep 2021

The New Zealand subsidiary of the Hong Kong listed business has been fined $770,000 for not complying with anti-money laundering laws. (Photo: Supplied)
Dan Brunskill
Mon, 13 Sep 2021
Directors of a derivative trading platform blocked its compliance staff from carrying out anti-money laundering checks on “objectively suspicious” high-net worth clients, a high court judgement has revealed.  An Auckland high court judge has ordered derivative trading provider CLSA Premium NZ to pay a $770,000 penalty for breaching anti-money laundering laws.The case was brought by the Financial Markets Authority who alleged the subsidiary of its Hong Kong listed parent failed to meet certain obligations between April 2015...

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