Regulatory Alerts2025-09-28
Added · Updated
Designated Business Group Formation and Change Guideline
AML/CFT supervisors in New Zealand issued this guideline to define eligibility, formation, notification, and withdrawal processes for designated business groups under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The document mandates that eligible entities elect to form a group in writing, appoint a contact person, and notify their supervisor within 30 days of any changes or membership additions. It further requires reporting entities to ensure independent compliance with AML/CFT obligations and privacy principles upon withdrawal or dissolution of the group.
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