The Department of Internal Affairs, the Financial Markets Authority and the Reserve Bank of New Zealand have released updated guidelines on the scope and formation of designated business groups (DBGs) under the AML/CFT framework, alongside a standalone notification form for reporting entities to request to elect, form, change or terminate a DBG. The updated Scope Guideline explains which obligations may be shared by members of a DBG, while the updated Formation and Change Guideline sets out the process for establishing and modifying DBG arrangements. Both September 2025 updates replace the previous versions published in October 2022, and reporting entities supervised by the Department of Internal Affairs can also manage a DBG through AML Online.
Department of Internal Affairs 2025-09-29
New Zealand Department of Internal Affairs, Financial Markets Authority and Reserve Bank of New Zealand update AML/CFT designated business group guidelines and publish notification form
The Department of Internal Affairs, the Financial Markets Authority, and the Reserve Bank of New Zealand have issued updated guidelines on designated business groups (DBGs) under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) framework. The updates include a Scope Guideline detailing shared obligations within DBGs and a Formation and Change Guideline outlining processes for establishing and modifying DBG arrangements. These replace the October 2022 versions, and reporting entities can manage DBGs via AML Online.