Anti money-laundering and counter-terrorism financing
Peet is required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and has adopted an anti-money laundering and counter terrorism financing. The program:
- Sets out the key measures that Peet will apply to assess the AML/CTF risks to its activities;
- Sets out the key measures that Peet will apply to mitigate and control those risks; and
- Explains the manner in which Peet will approach customer identification and verification.
The AML/CTF Act applies to Peet when it issues interests in managed investment schemes, sells units in managed investment schemes which are acquired as underwriter, and sells shares in company syndicates which are acquired as underwriter.
As prescribed by the AML/CTF Act, Peet must undertake customer identification procedures for each investor in the Company's managed investment schemes called 'know your customer' identification.
Peet may from time to time update its information requirements from members in its MIS and syndicates to meet updated standards under the AML/CTF Act and for other risk management purposes.
Minimum 'know your customer' identification is required to be collected from each party involved in a transfer of units. The level of 'know your customer' identification required to be collected will depend on the specific circumstances.
For the 'know your customer' identification requirements applying to individuals, individual trustees, companies or corporate trustees, please click here.
If you have any questions with these new procedures, please do not hesitate to contact this office and ask for the Compliance Officer.