As we are regulated and authorised by the FMA we comply with all applicable Financial Markets Legislation. We exceed the requirements of the Legislation and keep separate client money from our operating money. By keeping your money separate we can ensure that, if we were to become insolvent, your funds will be returned to you.
Funds deposited by clients will usually be received by us in a segregated trust bank account at the ANZ Bank. If we receive funds via another method (e.g. credit card) then we will transfer the amount in the client trust account. We perform daily client money reconciliations in accordance with the Legislation and this ensures that funds held in segregated bank accounts matches client’s assets.
We use ANZ Bank to hold segregated client money. ANZ Bank is the largest bank in New Zealand and is one of the leading banks in the Asia-Pacific region. We regularly review the market to ensure that client funds are safe.
Internal and external audits and reviews are undertaken to ensure we comply with all legislative requirements.
In the unlikely event of GPP Markets’ liquidation, client funds which are held in our client trust accounts would have their share of money returned, minus the administrators’ costs in handling and distributing these funds.