FMA warns Tiger Brokers

Mon, 06 Apr 2020

The Financial Markets Authority has issued a formal warning to NZX-accredited broker Tiger Brokers (NZ) Ltd after finding reasonable grounds to believe it had breached anti-money laundering rules.The Queen Street-based online broker must prepare and submit a plan to the regulator before April 17 explaining how it will become compliant and then carry out its plan by Sept. 30.The regulator also said it has privately warned six other businesses for their anti-money laundering practices, mainly due to late auditing of their systems and controls.The...

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