28 MARCH 2013 NEW ZEALAND GAZETTE, No. 38 1149

(f) the company maintains proper records:

(i) to record dealings in respect of specified futures contracts with clients;

(ii) to record client money, funds and property held or received in connection with dealings in specified futures contracts; and

(iii) which are audited or reviewed, and reported on, in accordance with the company’s AFS Licence;

(g) the company maintains adequate professional indemnity insurance for its business at all times;

(h) the company maintains at all times an external dispute resolution scheme that is available to its New Zealand investors that are retail clients;

(i) at the same time as the specified futures contracts are made available by the company to retail clients in New Zealand, in reliance on the authorisation in this notice, those specified futures contracts are also made available to Australian investors in accordance with the laws of Australia;

(j) every advertisement for a specified futures contract that is offered to a retail client in New Zealand, must refer to a product disclosure document that relates to the specified futures contracts referred to in the advertisement;

(k) no advertisement shall contain any information, sound, image or other matter that is inconsistent with any product disclosure document referred to in the advertisement;

(l) before the company provides any personalised futures adviser service to any retail client in relation to a specified futures contract, the company has provided that person with an adviser disclosure statement which clearly sets out the following information:

(i) The name and contact details of the company;

(ii) a statement to the effect that that advice on futures contracts is regulated under the company’s authorisation as a futures dealer and is not regulated under the Financial Advisers Act 2008;

(iii) the types of products the company deals in and, if advice on any product is only provided by some advisers, which advisers can provide advice on each product;

(iv) a description of any other factors which may materially influence the advice given by the company or its advisers;

(v) a description of how the company and its advisers are remunerated for futures dealing services;

(vi) details of any bankruptcy or insolvency event occurring in the past five years in respect of the company or one of its advisers;

(vii) details of any disciplinary or criminal proceedings resulting in an adverse finding in the past five years in respect of the company or one of its advisers;

(viii) details of any conviction for an offence of dishonesty against any of the company’s advisers;

(ix) a description of the internal and external dispute resolution schemes available to the client, and an explanation of how to make a complaint; and

(x) a description of the Financial Markets Authority’s role in authorising futures dealers, and details of how to contact the Financial Markets Authority.

4. Wholesale client advisory authorisation—(1) The company is authorised to carry on the business of dealing in futures contracts that consists of advising or assisting a person in connection with the acquisition or disposal of futures contracts that are forward foreign exchange contracts to which the company is not, and does not intend to be, a party.

(2) The authorisation in this clause 4 is subject to the conditions that:

(a) the company does not hold client money or client property in connection with such dealings in futures contracts; and

(b) the company does not carry on the business of dealing in such futures contracts on behalf of any person other than a person who has entered into a written agreement with the company, and then only in accordance with the terms of that agreement; and

(c) the company deals in such futures contracts only on behalf of its wholesale clients;

(d) before dealing in any futures contract in respect of which the authorisation in this clause 4 applies, the company is satisfied on reasonable grounds that the wholesale client is contracting:

(i) as principal on its own account; or

(ii) on behalf of a related body corporate; or

(iii) as trustee of a trust or manager of a managed fund; and

(e) the terms of any such futures contract:

(i) create obligations that cannot be transferred or terminated by either party to the futures contract without the consent of the other party; or

(ii) require that the transfer of obligations under the futures contract can be made only to a person who meets the criteria described in subclauses 4(2)(c) and (d).

5. Further conditions relating to dealing in futures contracts—The authorisations in clauses 3 and 4 are also subject to the conditions that the company:

(a) notifies FMA if the company’s AFS Licence is varied or revoked and notifies FMA of any regulatory action taken by ASIC in relation to the company’s AFS Licence; and

(b) provides FMA with a copy of the company’s audited financial statements no later than three months after the end of each financial year for the company; and

(c) any company document that states the company has been authorised by FMA to carry on the business of dealing in futures contracts includes a statement to the effect that:

(i) FMA’s role in authorising futures dealers is limited and does not imply approval or endorsement of the business, trading or solvency of the company; and

(ii) FMA has not approved any agreements or any disclosure documents of the company; and

(d) the company immediately notifies FMA in writing of any of the following events:

(i) The insolvency of the company or the bankruptcy of any of its directors or senior management;

(ii) if the company, or any of its directors or senior management, is convicted of an indictable offence;