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Pencarrow warned for ‘systemic’ AML failings

The Financial Markets Authority says the private equity firm breached record-keeping requirements.

The FMA said the risk of money laundering was low but Pencarrow failed to take its obligations seriously.

The Financial Markets Authority has warned private equity firm Pencarrow for breaching record-keeping requirements under anti-money laundering regulations.

The regulator said today it had found “systemic failings” in Pencarrow’s retention of identity and verification records for customers who

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Hamish McNicol Thu, 15 Dec 2022
Contact the Writer: Hmcnicol@nbr.co.nz
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Pencarrow warned for ‘systemic’ AML failings
Law,
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