NEW ZEALAND GAZETTE, No. 83

27 JUNE 2013

Financial Markets Authority

Securities Markets Act 1988

The Authorised Futures Dealers (KVB Kunlun New Zealand Limited) Notice 2013

Pursuant to section 38 of the Securities Markets Act 1988, the Financial Markets Authority gives the following notice.

Notice

1. Title, commencement and expiry—(1) This notice is the Authorised Futures Dealers (KVB Kunlun New Zealand Limited) Notice 2013.

(2) This notice comes into force on the day after its notification in the New Zealand Gazette.

(3) This notice expires on the close of 31 December 2013.

2. Interpretation—(1) In this notice, unless the context otherwise requires:

Act means the Securities Markets Act 1988.

advertisement has the meaning given to it in section 2A of the Securities Act 1978, except that every reference to securities should be read as a reference to specified futures contracts, and every reference to the issuer should be read as a reference to the Company.

adviser means a director, employee or agent of the Company who provides, or may provide, futures adviser services to a client.

agreed upon procedures engagement terms means a written agreement, in terms of the Explanatory Foreword to Reporting Engagement Standards and Guidelines issued by the Institute of Chartered Accountants of New Zealand, between the compliance reporter and the Company to perform specific procedures with respect to the Company’s compliance with systems, policies and processes contained in the Company’s compliance manual.

approved counterparty means

(a) a registered bank;

(b) an overseas bank; or

(c) a company which is an authorised deposit-taking institution under the Banking Act 1959 (Commonwealth of Australia).

bankruptcy or insolvency event means liquidation, receivership, administration, bankruptcy, admission to the no asset procedure under Part 5 of the Insolvency Act 2006, statutory management, or any similar event, whether occurring in New Zealand or in any other jurisdiction.

Company means KVB Kunlun New Zealand Limited.

compliance reporter means a qualified auditor who has entered into agreed upon procedures engagement terms with the Company.

disclosure document means a written document that describes and contains the offer of, and relates specifically to, a particular class, or particular classes, of specified futures contracts.

discretionary investment management service has the meaning given to that term by section 12 of the Financial Advisers Act 2008.

FMA means the Financial Markets Authority established by part 2 of the Financial Markets Authority Act 2011.

futures adviser service means a service provided by or on behalf of the Company in relation to a specified futures contract that would, but for section 14(1)(n) of the Financial Advisers Act 2008, constitute financial advice or a discretionary investment management service under that Act.

offence of dishonesty means:

(a) an offence described in any of sections 104, 105B, 108 to 117, and 217 to 266 of the Crimes Act 1961;

(b) an offence described in any of sections 15 to 20 of the Summary Offences Act 1981; or

(c) an offence under the laws of another jurisdiction which is equivalent to an offence referred to in paragraph (a) or (b).

personalised futures adviser service means a futures adviser service that would, but for section 14(1)(n) of the Financial Advisers Act 2008, constitute a personalised service under that Act.

prescribed liquid funds amount is the amount specified in clause 5(3).

qualified auditor has the same meaning as in section 2C of the Securities Act 1978.

recognised exchange means an authorised futures exchange or any exchange in a country other than New Zealand which is authorised by the laws of that country to operate as a futures exchange.

Regulations means the Futures Industry (Client Funds) Regulations 1990.

remuneration means any commission, fee or other benefit, whether pecuniary or non-pecuniary, and whether direct or indirect; but in the case of an adviser, does not include wages or salary which are of a fixed amount; and remunerated has a corresponding meaning.

retail client has the meaning given to that term by the Financial Advisers Act 2008.

specified futures contract means a futures contract, other than a futures contract that is made on or effected through a recognised exchange, to which the Company is, or intends to be, a party and that is described in the disclosure document.

surplus liquid funds has the meaning set out in clause 5(4).

(2) Any term or expression that is defined in the Act or the Regulations and used, but not defined, in this notice has the same meaning as in the Act or the Regulations.