New Zealand: Westpac closures indicative of major changes in banking, experts say
12th August 2016
New Zealand: Westpac closures indicative of major changes in banking, experts say
Bank customers are being told to make the most of their local branches – their days could be numbered. It has been revealed that Westpac is planning to close 19 of its branches, mostly in regional New Zealand, which could result in the loss of up to 70 jobs. Commentators… Read More
EU considers blacklisting NZ over tax laws
1st August 2016
EU considers blacklisting NZ over tax laws
Possible EU sanctions against New Zealand could make travel harder and have a massive effect on the economy. New Zealand is under investigation by the EU as it prepares a blacklist of global tax havens, Newshub revealed on Monday night. The grouping of 28 European nations has… Read More
New Zealand sets up trust register to curb tax evasion, money laundering
13th July 2016
New Zealand sets up trust register to curb tax evasion, money laundering
New Zealand said on Wednesday it will introduce a registry of foreign trusts that local tax and law enforcement agencies could use to investigate suspected money laundering and tax evasion. The registry was recommended after an independent review by accountant John Shewan last month, in the wake of the Panama… Read More
New Zealand sets up trust register to curb tax evasion, money laundering
13th July 2016
New Zealand sets up trust register to curb tax evasion, money laundering
New Zealand said on Wednesday it will introduce a registry of foreign trusts that local tax and law enforcement agencies could use to investigate suspected money laundering and tax evasion. The registry was recommended after an independent review by accountant John Shewan last month, in the wake of the Panama… Read More
New Zealand: PM rejects tax expert’s advice to speed up anti-money laundering laws
28th June 2016
New Zealand: PM rejects tax expert’s advice to speed up anti-money laundering laws
The Government won't speed up anti-money laundering laws – because of the cost to lawyers and real estate agents. Read More
Foreign trust rules ‘must change for the sake of NZ’s reputation’, official inquiry finds
27th June 2016
Foreign trust rules ‘must change for the sake of NZ’s reputation’, official inquiry finds
New Zealand's foreign trust rules are inadequate and must change, a Government-ordered inquiry has found. Read More
New Zealand: McCullum’s ‘casual’ comments on anti-corruption unit questioned
8th June 2016
New Zealand: McCullum’s ‘casual’ comments on anti-corruption unit questioned
A former head of the International Cricket Council's anti-corruption unit has questioned comments by former New Zealand captain Brendon McCullum, who labelled the unit's approach as casual. Read More
Panama Papers fallout speeds up NZ’s anti-money laundering legislation
31st May 2016
Panama Papers fallout speeds up NZ’s anti-money laundering legislation
Justice Minister Amy Adams says it takes longer than "five minutes'' to develop anti-money laundering legislation. Read More
New Zealand: FMA boss Everett gives regulator a pass mark
26th May 2016
New Zealand: FMA boss Everett gives regulator a pass mark
Financial Markets Authority chief executive Rob Everett is giving the market watchdog a pass mark as it nears the end of its establishment phase and starts taking a closer look at ensuring firms' conduct is up to scratch. Read More
Pacific money-laundering laws under revision
23rd May 2016
Pacific money-laundering laws under revision
Legislative drafting experts from across the Pacific met law enforcement officials in Auckland last week to revise the Pacific Island Forum's model provisions on combatting terrorist financing and money laundering. Read More
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