Disclosure Requirements - Investment Funds - New Zealand


Disclosure Category: 2

For holding investment funds in New Zealand, Clearstream Banking S.A (CBL) may be required under the laws and regulations of New Zealand to disclose, upon request, the identity, information and holdings on CBL customers and ultimate beneficial owners.


In order to comply with the local legislation, customers with holdings in New Zealand investment funds or entering into transactions in the New Zealand market must consent and are hereby deemed to consent to the required legal disclosure. Such consent includes the appointment of the requestor (for example, the Fund Manager, Transfer Agent, Regulator) as their attorney-in-fact, under power of attorney, to collect from CBL the required information to be disclosed. Customers who do not grant such authority cannot hold such investment funds or financial instruments in their accounts with CBL.

Disclosure requirement

Customers are advised that the local laws and regulations may require CBL to disclose the requested information on CBL customers and ultimate beneficial owners to the party that is entitled by law to receive such information.

Background and legal basis

The Legal basis for disclosure requirements may arise from the following:

  • Section 290(2) of the Financial Markets Conduct Act 2013;
  • Section 385(4) of the Financial Markets Conduct Act 2013;
  • Subpart 3 of Part 8 of the Financial Markets Conduct Act 2013.


Subject to changes in New Zealand law, sanctions and other consequences may be applied to for non-compliance. If CBL fails to comply with any such request, it could be subject to a pecuniary penalty not exceeding NZ$600,0O0 and/or one or more other civil liability orders made by the court: section 385(4) and subpart 3 of Part 8 of the FMC Act.


The information contained in the Disclosure Requirements is based on the legal opinion obtained by CBL that was issued on 3 October 2019. CBL believes the information to be correct as of that date but disclaims any responsibility as to the accuracy and completeness of the information after that date. If there is discrepancy between the information provided by CBL and the local laws and regulations, then the latter shall prevail. The Disclosure Requirements do not constitute legal advice and customers should seek advice from independent professional counsel.

Customers are responsible for ensuring compliance with the disclosure requirements and agree to indemnify and hold harmless CBL, for any loss, expense, liability, damage or claims, whether direct or indirect, against or incurred by CBL arising out of or resulting from such non-compliance.