Rest assured: PMG compliance processes receive A-grade rating
Compliance: "The act of conforming, acquiescing, or yielding. Cooperation and obedience; compliance with the law is expected of all." http://www.dictionary.com/browse/compliance
Whatever the meaning, for most, compliance means a heck of a lot of work, crossing t's and dotting i's, checking, authenticating, verifying and timeconsuming paperwork. And, if one thing is for sure, it's here to stay.
Regardless, when it comes to investing, compliance with the law is paramount. It ensures ethical processes are undertaken, investors funds are protected and there is transparency by all.
PMG Chief Financial Officer, Nigel Lowe, says PMG takes compliance very seriously.
"Over the past six months we have invested in strengthening our in-house risk and compliance team and have worked hard on developing a robust process to alleviate some of the compliance pain for our investors," Nigel says. "We've used technology to streamline the rigorous 'form-filling', that is required under the new anti-money laundering (AML) laws which came into effect last year, to speed up the process and prevent repetition for our investors who make more than one investment with us."
"A large part of my role since joining PMG last year has been to reinforce our capabilities in this space. We've hired Sally Lavis in the role of Compliance and Administration Associate, who is dedicated to helping PMG investors navigate their way through the anti-money laundering requirements. We know we're making it easier for our investors as a result," he said.
In January 2018, the AML regulations will be extended to include lawyers, accountants and financial advisors, meaning they will be subject to the same scrutiny when advising and investing on behalf of clients.
"PMG has just been audited by an independent auditor who has given us an excellent rating when it comes to our compliance processes," says Nigel.
"We know our practices are right up there with best practice and we have the skills and systems in place to also help professional advisors manage their compliance processes when these new laws extend to them next year," he says.
Last year PMG became one of only a handful of unlisted property and fund managers to attain a 'Managed Investment Scheme' Licence from the Financial Markets Authority. This means investors can rest assured PMG is being managed with absolute integrity, transparency, and is invested in continuing to provide exceptional governance across all of our investment offerings.
If you would like more information on PMG's compliance and AML processes please contact Sally Lavis on sally.lavis@pmgfunds.co.nz or 07 578 3494.
The views and opinions expressed in the article are those of Nigel Lowe solely. This is not personalised investment advice and readers should always consider taking professional advice before
making any investment decision