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FMA ruling on AML overkill: PAA
Tuesday 16th of July 2013
The PAA had been expecting the regulator to exempt RFAs who were advising a small number of clients on KiwiSaver from the new AML legislation.
“To our surprise, the FMA have taken a firm view on this, and have now issued official clarification on this point. They are quite clear – if you are an RFA and have an agency agreement with a KiwiSaver provider, then you are a reporting ent...
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