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Derivatives trader CLSAP NZ admits anti-money laundering law breaches in case with FMA


Derivatives trader CLSAP NZ admits anti-money laundering law breaches in case with FMA
5 May, 2021 10:23 PM
6 minutes to read
CLSA Premium New Zealand has admitted to anti-money laundering breaches. Photo / File
NZ Herald
A Kiwi derivatives trading firm and subsidiary of a Hong Kong company has admitted breaching anti-money-laundering laws after action was taken by the regulator.
CLSA Premium New Zealand Limited (CLSAP NZ) was accused of nearly
$50 million in suspicious transactions in a civil case filed in the High Court at Auckland by the Financial Markets Authority (FMA) in June last year.
Today, the FMA said the Auckland-based company has admitted it breached the Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. The markets watchdog had alleged the company failed to comply with its legal obligations between April 2015 and November 2018. ....

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auckland.scoop.co.nz » CLSAP (formerly KVB Kunlun) Admits To Anti-money Laundering Breaches


Press Release – Financial Markets Authority
CLSA Premium New Zealand Limited (CLSAP NZ) has admitted to breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act, following proceedings brought by the Financial Markets Authority – Te Mana Tātai Hokohoko (FMA).
The FMA filed proceedings in June 2020, in the Auckland High Court, alleging CLSAP NZ failed to comply with its obligations under the AML/CFT Act between April 2015 and November 2018.
CLSAP NZ and the FMA have filed an agreed statement of facts in which CLSAP NZ has admitted the following breaches of the AML/CFT Act:
Failure to conduct customer due diligence as required by Part 2 of the AML/CFT Act; ....

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PGA TOUR announces creation of the U.S.-based Forme Tour to support PGA TOUR Canada members


PGA TOUR announces creation of the U.S.-based Forme Tour to support PGA TOUR Canada members
 
The Forme Tour’s 72-hole, medal-play events will be conducted identically to other PGA TOUR-affiliated Tour tournaments.
In This Article
PONTE VEDRA BEACH, Florida The PGA TOUR announced Thursday the creation of the Forme Tour for current PGA TOUR Canada members as a result of restrictions and other COVID-19-related issues at the U.S.-Canadian border. For 2021, PGA TOUR Canada members will be given access to the Forme Tour, allowing them the ability to compete in a series of U.S.-based events between June and September. ....

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