Twelve reporting entities, including advisers and advice firms, have been handed formal warnings for breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) laws.
The FMA requested risk assessment and AML audits from 77 reporting entities (REs), just under 10% of the REs that the FMA supervises, by November 25 last year.
Selection of those required to submit information was partly based on factors including the previous late filing of an AML/CFT annual report and those REs who, for the last two years in a row, said they had not carried out an AML/CFT audit report...MORE»
Thursday, January 26th, 6:00AM
Is "client first" too much of a challenge for vertically-integrated organisations, such as banks? David Whyte ponders whether it's time to provide a carve-out for sales, as opposed to advice.MORE»
Monday, August 15th, 5:59AM
Financial services providers are becoming ever more familiar with the Financial Markets Authority in its industry oversight role – but who is keeping an eye on the regulators?MORE»
Compliance firm IDS has restructured to help advisers prepare for more regulatory change on the horizon.MORE»
Compliance firm IDS is to tap the skills of its newly-appointed general manager to offer a new service to help advisers manage complaints.MORE»
The Ministry of Business, Innovation and Employment has been asked: What problem is the Financial Advisers Act trying to fix?MORE»
There is concern that changes to the Code of Professional Conduct for Authorised Financial Advisers, due to take effect this year, may have slipped under the radar for AFAs amid the bigger review of the Financial Advisers Act.MORE»
Hundreds of people have made their views on the Financial Advisers Act heard.MORE»