As a financial services provider we have certain requirements under New Zealand law. One of these is to identify politically exposed people (PEP) who are using the Sharesies platform.
A politically exposed person is someone who is, or has held, the following positions in the last 12 months:
head of state or head of a country or government; or
government minister or equivalent senior politician; or
supreme court judge or equivalent senior judge; or
governor of a central bank or any other position that has comparable influence to the Governor of the Reserve Bank of New Zealand; or
senior foreign representative, ambassador, or high commissioner; or
high-ranking member of the armed forces; or
board chair, chief executive, or chief financial officer of, or any other position that has comparable influence in, any State enterprise
Or is an immediate family member, spouse, partner, child, or child’s spouse or partner, or parent of any of these people above.
Or is an individual known to have joint beneficial ownership of a legal entity or legal arrangement, or any other close relationship, with one of the people mentioned above.