Primary Disclosure Statement - Authorised Financial Adviser

Transcription

1 Primary Disclosure Statement - Authorised Financial Adviser Songyuan (Benny) Huang (Wong) (FSP166664) Company Names: Address KVB Kunlun New Zealand Ltd Level 10, the National Bank Tower 205 Queen Street Auckland Mailing Address PO Box Auckland, New Zealand Telephone number Fax [email protected] This disclosure statement was prepared on: 1 Feb 2013 It is important that you read this document This information will help you to choose a financial adviser that best suits your needs. It will also provide some useful information about the financial adviser that you choose. In addition to the information that I must disclose to you in this statement, I must also disclose other information to you in a separate disclosure statement (or statements), including information about the types of services that I provide, the fees that I charge, and any actual or potential conflicts of interest. If I have not provided that information to you at the same time as I give you this statement, I must provide it to you as soon as I can. What sort of adviser am I? I am an Authorised Financial Adviser. This means I have been authorised by the Financial Markets Authority (FMA - the government agency that monitors financial advisers) to provide the financial adviser services described below. How can I help you? I have been authorised to provide you with financial adviser services of the following categories: 1. Authorised Financial Adviser to provide Financial Advice, Discretionary Investment Management Services and Investment Planning Service 2. Providing wholesale and/or generic financial adviser services 3. Broking services 4. Providing a promoter of securities offered to the public service 5. Changing foreign currency 6. Providing forward foreign exchange contracts 7. Entering into or trading on an exchange, in an over-the-counter market or otherwise service When I do this, I will be able to give you advice/provide a service about financial products provided by only 1 organisation: financial products provided by a small number of organisations (2 to 5 organisations): financial products provided by a broad range of organisations (more than 5 organisations). How do I get paid for the services that I provide to you? Payment type Description Fees only My services are only paid for by the fees that you pay. I do not receive payments from other people or organisations that might influence my advice. Fees My services are paid for by the fees that you pay as well as in other ways. Commissions There are situations in which [I/my employer/my employer and I/my

2 Extra payments from my employer Non-financial benefits from other organisations principal/my principal and I] will be paid by other organisations. How much that payment will be depends on the decisions that you make. I may receive extra payments from my employer/principal] depending upon the decisions that you make. Other organisations may give[me/my employer/my employer and me/my principal/my principal and me] non-financial benefits depending on the decisions that you make. I am required to tell you the specific fees, commissions, extra payments, and other benefits that I have received or will, or may, receive in relation to the services that I provide to you. I must tell you these things before I give you advice and/or provide a service or, if that is not practicable, as soon as practicable after I give you that advice/provide that service. What are my obligations? As an Authorised Financial Adviser, I must comply with the Code of Professional Conduct for Authorised Financial Advisers. I also have other obligations under the Financial Advisers Act 2008 (including regulations made under that Act) and under the general law. What should you do if something goes wrong? If you have a problem, concerns, or complaint about any part of my service, please tell my internal complaints scheme so that we can try to resolve the problem. You may contact the internal complaints scheme by putting the complaint in writing to our Group Head of Risk and Compliance at: If by Post: PO Box Auckland, New Zealand If by [email protected] If by Fax: If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact Financial Dispute Resolution. This service will cost you nothing, and will help us resolve any disagreements. You can contact Financial Dispute Resolution at: Address: Freepost P.O. Box 5730 Wellington 6145 Level Featherston Street Wellington 6011 Telephone number: Web: [email protected] If you need to know more, where can you get more information? If you have a question about anything in this disclosure statement or you would like to know anything more about me, please ask me. If you have a question about financial advisers generally, you can contact the Financial Markets Authority. How am I regulated by the Government? You can check that I am a registered financial services provider and an Authorised Financial Adviser at The Financial Markets Authority authorises and regulates financial advisers. You can contact the Financial Markets Authority for more information, including financial tips and warnings. You can report information or complain about my conduct to the Financial Markets Authority, but in the event of a disagreement, you may choose to first use the dispute resolution procedures described above Declaration I, Songyuan Huang, declare that, to the best of my knowledge and belief, the information contained in this disclosure statement is true and complete and complies with the disclosure requirements in the Financial Advisers Act 2008 and the Financial Advisers (Disclosure) Regulations Signed: Benny Wong (Songyuan) (Huang)

3 Secondary Disclosure Statement - Authorised Financial Adviser My name is Songyuan (Benny) Huang (Wong) and I am an Authorised Financial Adviser with the registration number: FSP Address Level 10, the National Bank Tower 205 Queen Street Auckland Telephone number Fax: [email protected] This disclosure statement was prepared on: 1 Feb For further details of the terms on which KVB Kunlun New Zealand Limited will provide services to you, please see the latest version of our terms and conditions available on our website Type(s) of financial adviser service I am an Authorised Financial Adviser under the Financial Advisers Act 2008, and am employed by KVB Kunlun New Zealand Limited ( KVB ). In my role at KVB during the ordinary course of business, I provide the following financial adviser services: (a) Giving financial advice in relation to category 1 products, including category 1 products such as equity securities, fixed income securities, managed funds, futures and options, CFDs and margin foreign exchange and certain category 2 products including margin loans; (b) Offering a Discretionary Investment Management Services (c) Providing an investment planning service. (d) Providing wholesale and/or generic financial adviser services (e) Broking services (f) Providing a promoter of securities offered to the public service (g) Changing foreign currency (h) Providing forward foreign exchange contracts (i) Entering into or trading on an exchange, in an over-the-counter market or otherwise service Class Financial Advice In addition to personalised financial adviser services, I can provide you with class financial advice on general market matters and that based on investment research and other general information. Fees I do not personally charge a fee for the financial advice that I give. However, my employer, KVB, will charge you fees as described in the Charges Schedule attached or on KVB s website in connection with the financial adviser services provided to you. KVB s fees are generally either charged on a transactional basis and/or on a fund under management basis. Remuneration KVB Kunlun pays me a salary and a Discretionary Bonus. As a general rule, the Discretionary Bonus is determined by the nature and the level profitability of KVB. Therefore the amount of fees that KVB receives from you may impact on the level of remuneration I receive. Details of the fees that KVB charges are described in the Charges Schedule attached or on KVB s website. Details of remuneration that KVB receives from third parties may be available to you provided that the provision of this information to you is not confidential information and also not detrimental to the business of KVB. Relevant relationships A description of the financial or other interests, relationships, or associations KVB has that might be seen as being relevant to the provision of financial adviser services for you may be provided if it is not confidential information and not detrimental to the business of KVB. However, other than my relationship with my employer KVB, I do not believe I personally have any financial or other interest, relationship, or association with persons which a reasonable client would find reasonably likely to materially influence me in providing financial adviser services. Managing conflicts of interest

4 As an employee of KVB, I am required to comply with a comprehensive compliance manual, including Policies and Procedures that govern conflicts management and professional conduct. I have been trained on KVB s Conflicts of Interest Policy. Conflicts of interest are circumstances where some or all of the interests of a client are inconsistent with, or diverge from, some or all of the interests of KVB or its representatives who provide the financial services to the client. This includes actual, apparent and potential conflicts of interest. Our general policy is to: avoid any potential conflicts of interest; use reasonable skill and care; act in the client s best interest and do the best on behalf of the client; follow instructions from client; disclose any financial interest in the investment or financial product advice offered to a client; and obtain for the client the best terms available in the situation. KVB has adequate arrangements to manage all conflicts of interest affecting its business. KVB Kunlun uses the following mechanisms to manage conflicts of interest: controlling the conflicts of interest; disclosing the conflicts of interest; and/or avoiding the conflict of interest. KVB has a small number of staff and most activities are outsourced to external service providers, thereby minimising the risk of KVB. What kind of Professional Indemnity Insurance do I have? KVB carries professional indemnity insurance from American International Underwriters Ltd under a group policy for KVB Kunlun Holdings Limited and its subsidiaries. Auditing KVB is audited by external qualified auditors being PwC. Regulatory Review KVB Kunlun New Zealand Limited is regulated by NZX and the Financial Markers Authority. Relevant Qualifications Chartered Financial Analyst (CFA) Charter 2006 I ensure that my knowledge is kept up to date by continuous research, presenting lectures on financial products, and attending other financial seminars. Experience as an Investment Adviser KVB Kunlun New Zealand Limited All positions were based in Auckland. July 2002 Current Member of: CFA Society if New Zealand Signed Benny Wong (Songyuan) (Huang)

5 Stock Transaction Charges Schedule Market Commission Transaction Levy Settlement Details Returning Cash Australia 0.30% Minimum AUD New Zealand 0.70% Minimum NZD NZD 5.50 per order T + 3 T + 4 USA United Kingdom 1 to 3,000 shares: USD 0.03 per share Above 3,000 shares: USD 0.01 per shares. Minimum: USD % Minimum GBP Japan 0.40% Data subscription fees: Minimum: JPY 2,500 AMEX, CBOT, NYSE, NASDAQ, OPRA main session: USD 10 per month. (waived if commission paid is more than USD 30 per month) NYSE (Extended hours): USD 10 per month London Stock Exchange: GBP 5 per month Tokyo Stock Exchange: JPY 2,400 per month Australian Stock Exchange: AUD per month Fees determined by Exchanges and subject to change without notice