New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Record keeping obligations

Legal area

Court

28 Jun 2023

FINANCIAL MARKETS AUTHORITY v TIGER BROKERS (NZ) LTD [2023] NZHC 1625

Citation

[2023] NZHC 1625
Court

High Court

Because Tiger admitted the four statutory AML/CFT breaches, cooperated, and the agreed starting points and admitted discount fell within the range established by the Act and relevant authorities, the Court imposed a pecuniary penalty of NZD 900,000 and made permanent suppression orders with costs to the FMA on a 2B basis.
22 Nov 2019

R v QF, FC and JFL [2019] NZHC 3058

Citation

[2019] NZHC 3058
Court

High Court

On the facts the Judge was satisfied beyond reasonable doubt that many transactions were conducted through Jiaxin and that defendants structured and concealed transactions: s101 structuring by Ms Che proved, Jiaxin and both individuals failed to conduct CDD and to report or retain adequate records of suspicious transactions; s92 requires an objective 'reasonable grounds to suspect' assessment and secondary liability requires intention to facilitate the principal's failure to report or keep records.