Investor Information

OVERVIEW OF CHANGES TO NEW ZEALAND SECURITIES LAW

New Zealand securities law has recently undergone the biggest change in 30 years with the introduction and implementation of the Financial Markets Conduct Act 2013 (Financial Market Conduct Act). The Financial Market Conduct Act and related regulations aim to raise the standards of New Zealand’s financial market service providers by governing how financial products are created, promoted and sold, and regulating those who offer, deal and trade them in New Zealand. Specifically, the Financial Market Conduct Act introduced a new regulatory framework for managed investment schemes, which Greenplan Forestry Limited (Greenplan, we) is required to comply with.

WHO IS THE FINANCIAL MARKETS AUTHORITY?

The Financial Markets Authority (FMA) is the regulatory body for New Zealand’s capital markets and financial services sector. Their mission is to promote the development of fair, efficient and transparent financial markets.

WHAT DOES THIS MEAN FOR GREENPLAN?

Greenplan is now required to be licensed as a manager of managed investment schemes (MIS Manager). Our licence permits us to invest solely in forestry assets (excluding managed funds). In addition, each of Greenplan’s 63 forestry partnerships became registered managed investment schemes from 25 November 2016. Please visit the Disclose Register  https://app.companiesoffice.govt.nz for details relating to the forestry partnerships and for copies of, among other things, their respective governing documents, financial statements, and annual reports for the forestry partnerships.

To become a licensed MIS Manager, we underwent an application and assessment process with the FMA. The application and assessment process broadly involved the preparation of an application setting out how we did, and would continue to, satisfy the minimum standards required to obtain a licence. These minimum standards relate to all areas of our business including our people, corporate governance, operational infrastructure, financial management, and our risk and compliance frameworks. We also had to, among other things, increase our operational and governance capabilities. 

HOW DO THE CHANGES BENEFIT YOU?

Licensed providers are monitored by the FMA

The FMA proactively monitors all licence holders to ensure that they are meeting their obligations. It does this by using a mix of desk-based research, phone discussions and on-site office visits.

Appointed Supervisor

We are also required to appoint a supervisor to oversee our performance as the manager of the forestry partnerships. The appointed supervisor is Covenant Trustee Services Limited (Covenant). Covenant is licensed by the FMA under the Financial Markets Supervisors Act 2011. You can find out more information about Covenant and their contact details on their website http://www.covenant.co.nz.

Protection when things go wrong

As a licensed MIS Manager we are held to high standards of conduct. If you think that we are not meeting these standards or if you any issues in relation to your units in the forestry partnerships or the service that we are providing to you, you can make a complaint to us using the contact details below. You may also contact Covenant, the appointed Supervisor of the forestry partnerships, or the FMA if you have concerns regarding our performance as the manager of the forestry partnerships and they will investigate. Any complaint that you make to us, Covenant or the FMA, will be handled free of charge.

The Compliance Manager
Greenplan Forestry Limited
PO Box 24
Te Kuiti 3941
Email: deb.bryant@greenplan.co.nz

A copy of our Complaints Handling Policy is available free of charge on request from the Compliance Manager.

We also belong to a dispute resolution scheme. Our dispute resolution provider is the Financial Dispute Resolution Scheme (http://www.fdr.org.nz) and our financial service provider number is FSP256885. The purpose of the dispute resolution scheme is to provide you with an alternative method for resolving any problems that we cannot resolve with you. 

Simpler offer and reporting information

Licensed providers are expected to communicate clearly and simply with their investors. This means that our website, forestry information and even conversations that we have with you are designed to help you better understand our products and services. If you feel that any documents or information that you receive from us are not clear or if you have any questions in relation to these, please contact us. The best way to do this is by contacting us on the following:

The Compliance Manager
Greenplan Forestry Limited
PO Box 24
Te Kuiti 3941
Email: deb.bryant@greenplan.co.nz

WHAT FURTHER CHANGES CAN YOU EXPECT?

There are further changes that will need to be made by us over the next twelve months to ensure that we continue to meet the requirements of our licence. This may mean an increase in the fees that we charge you due to the increase in the obligations that we are required to satisfy as a licensed MIS Manager. However, these additional obligations provide ongoing assurance to you as our valued investor that your forestry partnership is being well managed and protected on your behalf for the long term.

FINANCIAL ADVICE

We may not provide you with financial advice. This includes providing you with our opinion or recommendation to buy or sell units in a forestry partnership or refrain from buying or selling units in a forestry partnership. We recommend that you seek advice from an authorised financial adviser before you make decisions of a financial nature.

The Sorted website https://sorted.org.nz contains information and details on choosing a financial adviser. Sorted is tended by the  Commission for Financial Capability, a government-funded, independent agency.

PRIVACY POLICY

We are committed to protecting your personal information. We have created a Privacy Policy to help you understand how and why we collect information from you, how we store it, how you can access and correct that information and when we might disclose information to other people.

This Privacy Policy does not limit or exclude your rights under the Privacy Act 1993.

Click HERE to view our Privacy Policy

If you are an investor in a forestry partnership, you may request access to all personal information that we hold about you by contacting us at:

Securities Registrar
PO Box 24
Te Kuiti 3941
New Zealand
Email: invest@greenplan.co.nz

Please quote your name and investor number along with a brief description of the information you would like a copy of.

AML/CFT

Background

The Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) places obligations on reporting entities to detect and deter money laundering and financing of terrorism.  The AML/CFT Act came into force on 30 June 2013.

As a reporting entity, we are required to conduct “customer due diligence” (CDD) on investors.  This also includes any beneficial owners of an investor and any person acting on behalf of an investor.  CDD will be conducted by us at the time that you acquire unit(s) in a forestry partnership and throughout the period that you own those units.

What is CDD?

CDD is the process by which we develop an understanding of who our investors are and how they intend to use our products and services.  This involves us identifying an investor by obtaining a range of information about them and verifying that information using reliable and independent sources.  It also involves us developing an understanding of the nature and purpose of the proposed business relationship between us and the investor.

For our new investors, you will not be able to acquire a unit or units in a forestry partnership until we have completed CDD on you to a level satsifactory to us.  For our existing investors, we will not distribute funds to you following the realisation of the assets of a forestry partnership that you own units in until we have conducted CDD on you to a level satisfactory to us.

You can visit the FMA website http://fma.govt.nz/compliance/amlcft to find out more about AML/CFT and CDD.

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