Customer due diligence guide for clients

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Maximilian Perkins
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1 Custmer due diligence guide fr clients Nvember

2 2 As a reprting entity under the Anti-Mney Laundering and Cuntering Financing f Terrrism Act 2009 (the AML/CFT Act), MinterEllisnRuddWatts has bligatins t cnduct custmer due diligence (CDD) n its clients. This guide will assist yu in understanding the infrmatin we need t btain and help yu thrugh ur client n-barding prcess. What is CDD? CDD is the prcess f identifying the peple wh wn and cntrl ur clients, and verifying their identity. Depending n the nature f ur client, it can take different frms. Fr example, the AML/CFT Act requires different infrmatin frm private cmpanies than it des fr listed cmpanies, and impses different requirements again fr entities that are trusts (althugh yu nly need t prvide the infrmatin fr the mst applicable rganisatin type, as set ut in Schedule 1). Why we cnduct CDD We take cmpliance with ur legal bligatins very seriusly. Hwever, we als value the relatinships we have with ur clients. Right frm ur first interactin with yu, we want t understand yur business s that we can becme yur trusted advisers. Knwing mre abut wh ur clients are helps us t d that. Hw we cmplete CDD We want t make yur interactins with us as easy as pssible, which is why we use an nline questinnaire t cnduct ur CDD. When we need t cnduct CDD n yu, a survey link will be sent t yu. Hwever if yu wuld ever prefer t prvide the CDD infrmatin we require in persn at ur ffices in Auckland r Wellingtn, please cntact ne f ur team. T help yu t cmplete the questinnaire when it is sent t yu, we have set ut the infrmatin yu need t prvide in this guide. Yu will find the prcess f cmpleting the questinnaire much quicker if it is readily t hand when yu cmplete the questinnaire. What we d with the infrmatin we cllect The infrmatin we cllect thrugh ur CDD prcess will be held in accrdance with ur privacy plicy. What we need frm yu We need infrmatin and dcumentatin t help us t identify ur clients, their beneficial wners and the peple acting n their behalf. The infrmatin and supprting dcumentatin we require fr each different type f client is set in the Schedules t this dcument. Schedule 1 CDD infrmatin... 4 Schedule 2 Identity verificatin dcumentatin... 9 Schedule 3 Address verificatin dcumentatin Schedule 4 Surce f wealth r funds infrmatin... 12

3 3 Questins? If yu have any questins abut this guide, r the infrmatin needed, please cntact the Partner r staff member yu regularly wrk with at MinterEllisnRuddWatts r ur AML/CFT Cmpliance Officer by ing aml.cmpliance@minterellisn.c.nz.

4 4 Schedule 1 CDD infrmatin The infrmatin generally required fr each type f client is detailed belw. T determine what specific requirements apply t yu, yu shuld select the mst apprpriate entity type frm the list belw. Yu can nly fall within ne entity type fr CDD purpses s, fr example, if yu are a private cmpany (i.e., nt listed), the infrmatin under that heading is what yu need t prvide. 1. Individual r sle trader Private cmpany Listed cmpany (including subsidiary f a listed cmpany) Registered bank, licensed insurer r supervisr Gvernment r statutry bdy Managing intermediary Partnership r limited partnership Trust Club r sciety Individual r sle trader Mandatry infrmatin Name Address Date f birth Details f anyne acting n behalf f the individual r sle trader If a sle trader: trading name identifier r registratin number (if applicable) Supprting dcumentatin required Fr the individual r sle trader and each persn acting n behalf f the individual r sle trader: prf f name and date f birth (as set ut in Schedule 2) prf f address (as set ut in Schedule 3) 2. Private cmpany Mandatry infrmatin Name Registered ffice Incrpratin number Whether the cmpany has any nminee sharehlders r bearer shares Details f the cmpany s beneficial wners, which will include: each directr

5 5 the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (if applicable) each individual sharehlder wning (directly r indirectly) mre than 25% f the shares in the cmpany each individual cntrlling (directly r indirectly) mre than 25% f the vting rights in the cmpany Details f anyne acting n behalf f the cmpany Supprting dcumentatin required Certificate f incrpratin r articles f assciatin Cmpany structure chart Cnstitutin and any relevant sharehlders agreement Fr each beneficial wner and each persn acting n behalf f the cmpany: prf f name and date f birth (as set ut in Schedule 2) prf f address (as set ut in Schedule 3) 3. Listed cmpany (including subsidiary f a listed cmpany) Mandatry infrmatin Details f anyne acting n behalf f the public cmpany Supprting dcumentatin required Fr each persn acting n behalf f the public cmpany, prf f name and date f birth (as set ut in Schedule 2) 4. Registered bank, licensed insurer r supervisr Mandatry infrmatin Details f anyne acting n behalf f the registered bank, licensed insurer r supervisr Supprting dcumentatin required Fr each persn acting n behalf f the registered bank, licensed insurer r supervisr, prf f name and date f birth (as set ut in Schedule 2) 5. Gvernment r statutry bdy Mandatry infrmatin Details f anyne acting n behalf f the gvernment r statutry bdy Supprting dcumentatin required Fr each persn acting n behalf f the gvernment r statutry bdy, prf f name and date f birth (as set ut in Schedule 2)

6 6 6. Managing intermediary Mandatry infrmatin If the managing intermediary is a specified managing intermediary r is a trust, details f the managing intermediary s beneficial wners, which will include: each directr the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (if applicable) each individual wning r cntrlling (directly r indirectly) mre than 25% f the managing intermediary Details f anyne acting n behalf f the managing intermediary Evidence f the status f the managing intermediary as a managing intermediary Supprting dcumentatin required Fr each beneficial wner and each persn acting n behalf f the managing intermediary: prf f name and date f birth (as set ut in Schedule 2) prf f address (as set ut in Schedule 3) 7. Partnership r limited partnership Mandatry infrmatin Name Address Identifier r registratin number (if applicable) Names f each partner Details f the partnership s beneficial wners, which includes: fr an rdinary partnership: each partner the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (if applicable) fr a limited partnership: each general partner if a general partner is a cmpany, each beneficial wner f that cmpany (as set ut in sectin 2) any individual hlding (directly r indirectly) mre than 25% f the partnership interests in the limited partnership Details f anyne acting n behalf f the partnership Supprting dcumentatin required Partnership agreement Fr each beneficial wner and each persn acting n behalf f the partnership: prf f name and date f birth (as set ut in Schedule 2) prf f address (as set ut in Schedule 3)

7 7 8. Trust Mandatry infrmatin Name Address Identifier r registratin number (if applicable) Details f the trust s beneficial wners, which will include: each trustee if a trustee is a private cmpany, each beneficial wner f that cmpany (as set ut in the private cmpany sectin 2) the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (if applicable) each individual having a right t (directly r indirectly) mre than 25% f the beneficial interest in the trust if the trust is an estate, each executr/administratr Details f anyne acting n behalf f the trust If the trust: is a discretinary trust, the class r type f each beneficiary has mre than 10 beneficiaries, the class r type f each beneficiary is a charitable trust, the class r type f each beneficiary and the bjects f the trust is any ther trust, the name and date f birth f each beneficiary The surce f the trust s wealth (being its verall wealth) r funds (being the funds used in the particular transactin), as set ut in appendix 1 Supprting dcumentatin required Trust deed Fr each beneficial wner and each persn acting n behalf f the trust: prf f name and date f birth (as set ut in Schedule 2) prf f address (as set ut in Schedule 3) 9. Club r sciety Mandatry infrmatin Name Registered ffice/principal address Registratin/incrpratin number Club r sciety s legal status and purpse Details f the club r sciety s beneficial wners, which will include: the president, treasurer and secretary the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (if applicable)

8 8 each individual having a right t (directly r indirectly) mre than 25% f the club r sciety Details f anyne acting n behalf f the club r sciety Supprting dcumentatin required Rules r articles f incrpratin Fr each beneficial wner and each persn acting n behalf f the club r sciety: prf f name and date f birth (as set ut in Schedule 2) prf f address (as set ut in Schedule 3)

9 9 Schedule 2 Identity verificatin dcumentatin Identity verificatin dcuments When supprting dcumentatin is required t verify a natural persn s identity, the acceptable dcumentatin is: Optin A One f: a New Zealand passprt; a New Zealand driver licence; a New Zealand firearms licence; r an verseas passprt. Optin B One f: a New Zealand full birth certificate; a certificate f New Zealand citizenship; a citizenship certificate issued by a freign gvernment; r a birth certificate issued by a freign gvernment, the United Natins r an agency f the United Natins, AND An 18+ card. Certificatin requirements A certified cpy f any identity verificatin dcument must have been certified in the last three mnths by a trusted referee and must cntain a statement that the dcuments prvided are a true cpy and represent the identity f the named individual. The trusted referee must specify their capacity t act as a trusted referee as well as include their name, signature and the date f certificatin. Trusted referee requirements New Zealand A trusted referee is any ne f: member f the Plice; Justice f the Peace; registered medical dctr; A trusted referee must nt be: related t the individual; fr example, a trusted referee cannt be a spuse r partner, parent, child, brther, sister, aunt, uncle r cusin; Kaumatua; registered teacher; minister f religin; lawyer; a persn wh lives at the same address as the individual; r a persn invlved in the transactin r business requiring the certificatin. Ntary Public; New Zealand hnrary cnsul; Member f Parliament; r chartered accuntant.

10 10 Trusted referee requirements Australia A trusted referee is any ne f the peple listed here, which includes: registered medical practitiners; lawyers teachers; ministers f religin; chartered accuntants; and emplyees f a State r Territry r the Cmmnwealth. A trusted referee must nt be: related t the individual; fr example, a trusted referee cannt be a spuse r partner, parent, child, brther, sister, aunt, uncle r cusin; a persn wh lives at the same address as the individual; r a persn invlved in the transactin r business requiring the certificatin. Trusted referee requirements United Kingdm A trusted referee is: a slicitr; a Ntary f the Public; a Justice f the Peace; A trusted referee must nt be: related t the individual; fr example, a trusted referee cannt be a spuse r partner, parent, child, brther, sister, aunt, uncle r cusin; a Cmmissiner fr Oaths; r a Cuncillr (Sctland nly). a persn wh lives at the same address as the individual; r a persn invlved in the transactin r business requiring the certificatin. Trusted referee requirements ther cuntries A trusted referee is any persn authrised t take statutry declaratins (r the equivalent) in the relevant cuntry. A trusted referee must nt be: related t the individual; fr example, a trusted referee cannt be a spuse r partner, parent, child, brther, sister, aunt, uncle r cusin; a persn wh lives at the same address as the individual; r a persn invlved in the transactin r business requiring the certificatin. When arranging fr certified ID dcuments t be prvided t us, please ensure that the trusted referee uses the fllwing certificatin: I certify that this is a true and crrect cpy f the riginal dcument that I have sighted and that the dcument represents the identity f the named individual. Signature f signatry Name f signatry Psitin/qualificatin f signatry Date

11 11 Schedule 3 Address verificatin dcumentatin Address verificatin dcuments When supprting dcumentatin is required t verify a natural persn s identity, the dcumentatin (which must nt be mre than six mnths ld) accepted is: Address verificatin dcumentatin One f: utility bill; electrnic yellw pages; rates bill; electrnic white pages; bank accunt statement; electral rll papers; gvernment r gvernment department dcument; lcal cuncil ntificatin/demand; curt dcument; rental tenancy agreement; Cmpanies Office recrds; IRD tax ntice/certificate; car registratin ntificatin/demand; insurance plicy dcument; educatinal institutin letter (must be n letterhead paper and signed by persn in authrity cnfirming residential address); emplyer prvided accmmdatin letter; hst letter; shrt-term accmmdatin letter; r student accmmdatin letter. nn-bank financial institutin statement; Certificatin requirements A certified cpy f any address verificatin dcument must have been certified in the last three mnths by a trusted referee 1 and must cntain a statement that the dcuments prvided are a true cpy. The trusted referee must specify their capacity t act as a trusted referee as well as include their name, signature and the date f certificatin. When arranging fr certified address verificatin dcuments t be prvided t us, please ensure that the trusted referee uses the fllwing certificatin: I certify that this is a true and crrect cpy f the riginal dcument that I have sighted. Signature f signatry Name f signatry Psitin/qualificatin f signatry Date 1 The requirements fr a trusted referee are set ut in Schedule 2.

12 12 Schedule 4 Surce f wealth r funds infrmatin Belw are examples f what culd be used t prve surce f wealth and funds. Incme frm emplyment (i.e., wages, bnus) either: an riginal r certified cpy f a recent pay slip bank statements shwing the last three salary/wage payments written cnfirmatin f annual salary signed by emplyer Incme frm business activities either: audited financial statements a letter frm a lawyer r accuntant cnfirming incme Rental incme prf f wnership f the prperty, and either: tenancy agreement bank statements shwing the last three mnths rental payments Intra-grup financing audited financial statements Prperty sale, either: sale and purchase agreement written cnfirmatin f sale signed by prfessinal adviser Sale f investments, either: riginal r certified cpy f cntract nte(s) written cnfirmatin f sale/hlding signed by prfessinal adviser Cmpany r business sale, either: riginal r certified cpy f cntract f sale written cnfirmatin f sale signed by slicitr r accuntant Capital cntributin, either: cnstituent dcuments reslutins

Verifying Your Account & Identity

Verifying Your Account & Identity Verifying Yur Accunt & Identity Acceptable Identificatin Dcumentatin The Anti Mney Laundering and Cunter Terrrism Financing Act 2006, requires Luxbet t verify the identity f anyne wh pens a new wagering