1. Compliance
  2. AML/CFT
  3. Who needs to comply

Who needs to comply

 

The Act describes those who need to comply as 'reporting entities'.

To work out if your business is a reporting entity, refer to section 5 of the Act and check our FAQs.

Other reporting entities are found in the Anti-Money Laundering and Countering Financing (definitions) Regulations 2011.

The reporting entities supervised by the FMA are listed in section 130 of the Act. They include:

  • issuers of securities
  • licensed supervisors 
  • derivatives issuers and dealers
  • DIMS providers
  • fund managers
  • brokers and custodians
  • financial advisers
  • equity crowdfunding platforms
  • peer-to- peer lenders.

The Reserve Bank supervises banks, life insurers and non-bank deposit takers.

The Department of Internal Affairs covers casinos, non-deposit-taking lenders, money changers and reporting entities not covered by the other supervisors.

Other useful resources:

 

 

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