AFT (NZ) Limited - AFT - is a New Zealand registered financial service provider. The company registration can be verified at the New Zealand Companies Office Website.

For client money and property services and Anti-Money Laundering and Counter Financing of Terrorism purposes, AFT is supervised by the New Zealand Financial Markets Authority (FMA).

In this Disclosure Statement, you will find the following information:

• Contact details
• Fees
• Material interests, relationships or associations
• Remuneration
• Dispute resolution arrangements
• Criminal and civil litigation history
• Information relating to the broking service provided
• Details of AFT's indemnity insurance
• Record keeping
• Privacy

A. Contact Details

AFT is a New Zealand incorporated limited liability company and can be contacted at the following address:

Address: Level 27, 151 Queen Street, Auckland Central, Auckland, New Zealand

Email: [email protected]

Telephone: +64 9 393 8128

B. Fees

The fees and charges applicable to the Services provided to you can be viewed via the link below. Any alterations to applicable fees and charges may be found here.

View Fees and Charges

The fees and charges applicable to the Services provided to you will be either:

• the fees and charges agreed in writing in respect of any particular Services; or
• fees and charges notified by us to you from time to time in accordance with the Client Agreement General Terms and Conditions.

Our fees and charges include:

• Client money and property services and other fees, charges, duties, and taxes at the rate or rates notified by us to you from time to time.
• Any fees charged by an Agent and other charges incurred in effecting any transaction.
• Any charges or penalties imposed by another service provider, Agent, or other stock exchange including charges or penalties imposed as a result of late or non-delivery of scrip, holder identification particulars, or any other information or requirements.
• Any reasonable fees and charges we may impose for complying with our obligations under the AML/CFT Act in relation to you or the Account.

We may debit our fees and charges either:

• to the Account (including any of your Client Funds held in the AFT Client Funds Account); or
• to your Online Multi-Currency Account.

Currency Exchange Fees and Transfer Fees: Where a client deposits money to AFT in a foreign currency or a currency other than the denominated currency, banks may charge a fee on the inward payment or conversion. However, this fee is not charged by AFT and is out of AFT’s control.

Default Interest: In an event of a failure to settle by you, interest may be charged on any unpaid amount at the Default Rate.

C. Material Interests, Relationships and Associations

For client money and property services obligations, AFT is regulated by the New Zealand Financial Markets Authority (FMA). For Anti-Money Laundering and Counter Financing of Terrorism purposes, AFT is a reporting entity also supervised by the FMA. AFT is a wholly owned subsidiary of Tiger Brokers (NZ) Limited, which is in turn under the ownership of NASDAQ listed company Up Fintech Holding Limited (TIGR).

AFT administers assets belonging to clients in a fiduciary capacity. This is a key area of regulation under the Financial Markets Conduct Act 2013 (the “Act”). The main purpose of client money and property services conduct obligations under the Act is to ensure that AFT accounts for, and safeguards, client assets at all times.

Funds received from you or on your behalf will be held by AFT in a Client Funds Account on trust, unless and until it is disbursed to settle transactions on your behalf or otherwise distributed in accordance with your instructions.

For the purposes of United States securities trading, Client’s funds that are lodged with AFT may be held and protected by AFT trade execution counterparty Interactive Brokers (‘IB’) in a Special Reserve Bank Account for the Exclusive Benefit of clients in the United States.

Currently, all securities in custody are held by sub-custodians. The specific sub-custodian that holds securities in custody may depend upon the market upon which trades are executed and is at AFT’s discretion.

Brokers – Client Money notice: AFT holds money and/or securities on trust for you which means AFT is required to ensure your money is held separate from its own money. However, as permitted by s.229ZA(1) of the Financial Markets Conduct Regulations 2014 (the Exemption) the account in which your money is held, also contains a limited amount of AFT’s money to reduce the risk of a shortfall arising in the client money held for a particular client in that account.

Dealings: You acknowledge and agree that:

• You appoint us as your agent for the purpose of dealing in financial products in accordance with the terms of this Agreement.
• We may also deal in financial products as principal on our own account.
• Our directors or employees and all other persons associated with us may deal in financial products on their own account.
• We may in certain circumstances either acting for another client or on our own account take the opposite position to you in a contract or trade.

D. Remuneration

Any advisory services of AFT are provided by authorized personnel and are provided only for clients of AFT. AFT advisers may benefit by providing client advice where such advice leads to the client giving AFT orders for execution for which AFT charges the client fees.

In the course of transactions, AFT may receive or earn fees and brokerage, including client money and property services and trail commission from third parties and/or margin on exchange rates in respect of transactions involving foreign exchange.

E. Dispute Resolution Arrangements

If you would like to make a complaint, you should contact AFT. AFT will endeavour to quickly and satisfactorily resolve the complaint. In the event that you are not satisfied, you are invited to put your complaint in writing to:

The Compliance Manager
AFT (NZ) Limited
Level 27, 151 Queen Street
Auckland Central
Auckland, New Zealand
Email: [email protected]

If we cannot agree on how to resolve the issue, or if you decide not to use AFT’s internal complaints scheme, you can contact the Financial Services Complaints Limited (“FSCL”).

Financial Services Complaints Limited
Postal Address: PO Box 5967, Wellington 6140
Address: Financial Services Complaints Limited, Level 4, 101 Lambton Quay, Wellington 6011
Telephone: 0800 347 257, +64 4 472 3725
Email: [email protected], [email protected]
Web: https://fscl.org.nz/

F. Criminal Convictions and Related Matters

Neither AFT, its directors, principal officers, nor investment advisers have been:

• Convicted of a crime involving dishonesty (as defined in Section 2(1) of the New Zealand Crimes Act 1961).
• The subject of an adverse finding by a court or the FMA in any proceeding that has been taken against them in their professional capacity.
• Adjudicated bankrupt.

G. Information relating to Client Money and Property Services

The services which AFT currently provides to clients include, without limitation:

• Wholesale and/or generic financial adviser services.
• Client money and property services (including a custodial service) in relation to share trading and other financial products.
• The investment of deposits (secured and unsecured) with financial institutions.
• Arranging for investments into Initial Public Offerings (“IPOs”) including equity, debt, and quasi-debt Securities.

H. Professional Indemnity Insurance

AFT maintains insurance cover at a level that it considers appropriate for the nature and risks of its business. The interests insured are Professional Indemnity Insurance, Directors and Officers Liability Insurance, and Statutory Liability Insurance. These policies are provided by 100% Munich Re Syndicate Singapore Pte Limited. The policies are applicable from 01 December 2020 to 01 December 2021 and are renewed annually. The cover extends to all business activities. As with all insurance, these covers have limitations and are subject to certain exclusions.

I. Record Keeping

AFT keeps a full set of accounting records showing the receipt and disbursement of all money and the movement of all securities and any other property held on your behalf. You may request details of your own transactions at any time. We hold account records for at least seven years. A fee may be charged for historical information requests.

J. Privacy

AFT collects personal information from you as required by the laws to which we are subject (for instance anti-money laundering laws and taxation laws) in order to provide you with financial services (including custody services) and verify your identity. Apart from the exceptional circumstances listed in the Customer Privacy Policy, AFT will not disclose personal information collected without your consent.

AFT is bound by the Privacy Act 2020 and New Zealand privacy principles when we collect personal information from you. We take your privacy seriously, please review our Privacy Policy which may be viewed at itiger.com. We have taken steps to ensure that your personal information is kept both private and secure.

AFT collects personal information from you including but not limited to your name, address, contact details including your email address, ID/passport/driving license number, IRD number, banking details and information on transactions carried out through AFT by you or any agent you appoint.

AFT may be required by law to disclose information about you to external parties including regulatory bodies. In such cases, AFT must fully cooperate with the relevant request.

Appendix

Fees may be subject to revision at short notice. Therefore reference should be made to the website for an up-to-date disclosure of fees, that are updated as required.

View Current Fees