What you need to take into consideration when
Information we need from you
For further compliance, we need you to provide us:
Company Application Form to be filled and signed;
Organizational/structure chart showing board of directors, shareholders, list of senior persons (compliance officer, Money Laundering Reporting Officer and deputy) and other officers who will would be responsible for the day to day operations;
Business plan with 3-year projections giving details of proposed activities, types of customers, products and services to be offered (brokerage, CIS securities, underwriting, etc.);
An Internal Procedures Manual;
An Anti-Money Laundering & Compliance Procedures Manual;
Details of proposed membership with an Exchange, clearing and settlement facility, etc.;
Details of procedures and systems to prevent conflicts of interest, terrorism and money laundering;
An indication as from where the company intends to operate;
Indication of the profile and location of the target clients of the company;
Details of the modus operandi of the company (mode of operation);
Confirmation whether the company will have a trading platform and details thereof;
Due diligence documents on directors, shareholders, all officers, beneficial owners, etc. as per below:
Officers’ due diligence, including CV’s stating qualifications, work history, experience/expertise in investment/securities management and present occupation. It should also include details of the source of the funds from the shareholder or beneficial owner only.
Generally speaking, documents that:
- Clarify the company’s financial activities in New Zealand;
- Demonstrate what the company’s marketing/promotion plans are;
- Evidence that New Zealand staff will be experienced in the financial activities to be undertaken; and
- Evidence showing that the company is substantial and reliable
