Bell Gully conversations with the AML/CFT Supervisors: James Greig FMA Director of Supervision

8 April 2022

Our specialist Anti-Money Laundering team has noticed an increase in the number and range of instances in which clients are calling upon our AML expertise over the last few years. Towards the end of 2021, we commenced a series of conversations with New Zealand’s AML supervisors to better understand the regulators’ position on a range of practical AML issues that we routinely grapple with.  

In our first conversation of the series, Blair Keown sat down with James Greig, Director of Supervision at the Financial Markets Authority (FMA), to discuss the FMA’s views on a range of AML-related topics, including:

  • Customer due diligence.
  • Terminating a business relationship for AML reasons.
  • Self-reporting breaches.
  • Enforcement attitudes.
  • International influences.
  • The FMA’s priorities for the years ahead.   

A recording of the conversation can be accessed below. 

We hope you find the insights from the conversation helpful.

For other conversations in the series see:

Bell Gully conversations with the AML/CFT Supervisors: Andrew Holmes and Rob Milnes
Bell Gully conversations with the AML/CFT Supervisors: Angus McGregor and Kerry Beaumont, RBNZ

If you have any questions about the matters raised in this discussion, please get in touch with the contacts listed or your usual Bell Gully adviser.

Disclaimer: This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.