1. Electronic Verification
To meet the requirements under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act), we must verify our client’s identity and residential address.
One option is to try and do this electronically, however not everyone can be verified electronically, please be advised that we may still contact you for further verification if the electronic verification fails.
As part of the electronic verification processes, your personal details are disclosed to and matched with information held by the issuer of the identity document containing your personal details e.g. your drivers’ licence or the official record holder of your information, via third party systems.
We will only use your personal details for the purpose of verification under the AML/CFT Act.
By signing this form, you agree to verify your identity and address electronically against government related identifiers and other authoritative data sources.
2. Anti-Money Laundering and Countering Financing of Terrorism Act 2009
I/We acknowledge that the CFX is subject to anti-money laundering and countering the financing of terrorism laws (AML/CFT laws) in New Zealand. This may include reporting of suspicious transactions required by AML/CFT laws to the Commissioner of the New Zealand Police.
I/We acknowledge that the CFX may use a third party system to verify my identity to determine whether I am/we are recorded with any notation as Politically Exposed Persons and whether I/we have a criminal record.
I/We agree to provide CFX (and its employees, agents, nominees and related entities) with reliable information and other assistance it reasonably requires to establish the bona fides of the source of my/our funds/wealth, and to comply with the AML/CFT laws.
I/We represent and warrant that I/we have no cause to believe the funds used to FX trades are the proceeds of crime or will be used to finance terrorism.
I/We agree to indemnify CFX (and its employees, agents, nominees and related entities) against any loss it suffers as a result of me/us providing incorrect or incomplete information.
I/We understand that failure to comply with the reasonable request for information by the CFX to satisfy AML/CFT laws will result in my/our application being rejected.
3. Personal Information and Privacy Act
I/We consent and agree that all information about me/us disclosed in this form may be used by CFX (and its employees, agents, nominees and related entities) or disclosed to and used for the purpose of completing/monitoring the transactions, including disclosure to the Financial Markets Authority and in compliance with the AML/CFT laws.
I/We know that CFX may use the information on this form for the purpose of:
- Creating and maintaining risk related models, including but not limited to risk assessment, risk analysis and risk management;
- Fulfilling reporting obligations, including but not limited to Annual AML/CFT Report, STR, PTR, CRS, FATCA and any other reporting obligations imposed by New Zealand laws and regulations;
- Responding to bank inquires;
- Marketing products, services and other subjects under the umbrella of Collinson & Co;
- Meeting the requirements to make disclosure under the requirements of any law binding on us or under and for the purpose of any guidelines issued by regulatory or other authorities to comply;
- Any other purposes relating to the purposes listed above.
I/We know that I/we can request such access to and correction of any information held about me/us by CFX.
Notwithstanding the foregoing, I/we acknowledge that where a suspicious transaction report has been made about me/us, the person who has made that report is not able to give me/us access to any information about that report (including its existence) and I/we have no right to request information in that report to be corrected.
I/We will inform CFX of any changes to the information provided by me/us to CFX.
4. United Stated (US) Foreign Account Tax Compliance Act (FATCA) Automatic Exchange of Information (AEOI) and the Common Reporting Standard (CRS)
I/We acknowledge that CFX has certain obligations to report information held about me/us under FATCA and CRS and I/we consent to CFX (and its employees, agents, nominees and related entities) disclosing all such information to the necessary parties.
I/We acknowledge that I have examined the information provided and it is true, correct, and complete to the best of my/our knowledge and belief.
I/We understand and agree that on specific request from any relevant tax authorities or any party authorized to audit or conduct a similar control for tax purposes, the information contained in this section and/or a copy of this form can be disclosed to such tax authorities or
such party.
In case of any change in circumstances that causes the information contained herein to become incorrect I/we recognize that I/we will have to provide a suitable updated declaration within 30 days of such change in circumstances.
Please be advised that penalties under the AEOI laws may apply if you provide false or misleading information, fail to provide this information, or fail to provide an update if there is a material change to the information you have provided. This includes civil penalties of $1,000 per offense that Inland Revenue can apply. Substantial criminal penalties can be applied by the courts for knowledge-based offenses. These penalties apply for the purposes of both FATCA and CRS.