AML

The Anti-Money Laundering and Counter Financing of Terrorism Act 2009 (Act) is intended to help prevent Money Laundering and Financing of Terrorism.

The Act requires Financial Advisers to comply and verify clients’ identities and any people we deal with on their behalf.

Accordingly, we are required to confirm and verify the following information.

• Your full name
• Your date of birth
• Your residential address

In some cases, we are also required to verify what your “Source of Wealth” was, and we may need to ask you for documents to verify this.

Typically we will ask you for the documentation at the meeting where we present our financial advice to you. However, we may ask you for this prior to this if we feel that it will simplify the process for you. In some cases, the information required can be complex, particularly when the entity involved is a Trust or a Company. In this case, we will make you aware of what is required as soon as possible to allow you time to gather the information.

In most cases, we will use Electronic Verification. This will involve you being sent a link to upload your identity information, and the verification will be sent to us. If you prefer or have the information to hand, we can verify this information face to face. This means we will need to sight and verify the documents at the meeting. We will take copies of the documents and retain these on our records. Manual verification may be required depending on the type of Identification document you want to use, as we can not electronically verify all documents.

Proof of Identity

You have three options

1. Passport
2. NZ Driving License and a statement issued by a registered bank in the last 12 months
3. NZ Driving License and a bank card with your name embossed on the card, along with your signature

There are some alternatives for identification

You can use

NZ Firearms Licence;

or

2 of Birth Certificate, Certificate of NZ Citizenship, NZ Driving Licence. In addition, your NZ Driving License, 18+ or an overseas driving license with a valid international driving permit

Or

NZ Driving License, plus a document that confirms your name and signature, such as a super gold card or a statement from a government agency such as IRD.

Proof of Address

You have three options

1. A statement from your bank
2. A letter from a government agency with your residential address on the letter
3. A utility bill showing your name and residential address. This can be sent to a PO Box, but it must show the service being provided to your residential address. You can also use a rates bill.

The identify documents you use must be original, must not be damaged and must be current or expired within 12 months. They must also be in English or have a certified translation.

Proof of Address documents must include your name, by less than 12 months old, must have a unique number and include your residential address. If it is addressed to a PO Box, it must clearly identify your residential address.

Examples of documents we can use include

• Power Bill
• Sky Bill
• Broadband Bill
• Rates Bill
• Tenancy Agreement
• Insurance Policy confirmation
• KiwiSaver Scheme letter

Companies

We will need to identify any party who is in a position of authority or has a degree of control. This is typically people with more than a 25% shareholding. In some cases, we will be required to obtain additional information depending on your companies ownership structure and how the shareholding is held.

For a company, we need to identify

• Your legal name
• Trading name
• Your registered office and place of business if this is different
• Place of incorporation
• Your company number
• The company purpose

For any individual who is in a position of control, such as owners, senior managers and directors, we will also need to fulfil the requirements for individuals

If you are acting on behalf of a Trust, we will need a minute to confirm that you have authority to act. We will still require all Trustees to sign an application form.

We will need a copy of the Trust Deed and any subsequent amendments. Once we have these documents, we can confirm who we need to identify. This will include

• All Trustees
• Settlor
• Any other person who can exert control
• In some cases, Named beneficiaries.

We will also need to identify the source of wealth for the Trust.

• Set of your financial statements along with a letter from your accountant
• Sale and purchase agreement of the sale of the business or property
• Copy of a court order
• Payslips for your past three months salary
• Copy of a will showing your entitlement, along with a copy of the statement from the solicitor
• Copy of a bank statement
• Copy of letter from Lotteries commission

In some cases, where we can’t sight the documents, you can provide us with certified copies. The person who does this can not be related to you or live with you. They also can not be involved in the investment or in the entity that is investing.

Documents must have been certified in your Presence and within the past three months.

They must confirm that

• they are True and Correct copies
• That they represent your identity, and they are a true likeness.
• List the name, address and the person role.

The documents must be in colour, and we must be able to see your facial features clearly.

Who can certify documents

This list is not exhaustive but provides the most common people who can certify the documents

• Chartered Accountant or Certified Practicing Accountant
• Lawyer
• Justice of the Peace
• Member of Parliament
• Police Officer
• Registered Doctor
• Registered Teacher

If you are overseas, please contact us, and we will discuss who can certify the documents with you.