Publications > Commercial
New penalties for directors for failure to file companies’ financial statements
Companies Act Changes: NZ director essential
Unfair Contracts and Consumer Law changes
Upcoming changes to company and director requirements: What directors need to know
New obligations for law firms in relation to money laundering
Commercial leases & lease inducement payments
New landlord tenant law tested
Your legal checklist for starting and developing a successful business
Directors’ liability for reckless trading
The Building Act 2004: major implications for property developers, builders and vendors
What are Trademarks and why is it important to protect them?
No preference for preferred suppliers
New Obligations For Law Firms In Relation To Money Laundering
- to detect and deter money laundering and the financing of terrorism;
- to maintain and enhance New Zealand’s international reputation by adopting recommendations issued by the Financial Action Task Force (an inter-governmental body); and
- to contribute to public confidence in the financial system.
Who is a “reporting entity”?
What are the Obligations?
A reporting entity under the Act must:
- establish, implement and maintain internal policies and procedures relating to anti-money laundering and countering of financing of terrorism;
- indentify and verify the identity of customers and undertake ongoing customer due diligence;
- identify the source of money used by customers in their transactions;
- report suspicious transactions;
- keep and maintain records; and
- have a compliance and reporting officer.
What will be the effect on law firms generally?
What will this mean for Fortune Manning’s clients?