May 2020

Tiger Brokers (NZ) Limited (TBNZ) is a New Zealand Exchange (NZX) accredited Client Advising Market Participant. Consequently, TBNZ has entered into a contractual relationship with the NZX and has undertaken to abide by the NZX Market Participant Rules, January 2020. The company accreditation can be confirmed at the NZX website at. https://www.nzx.com/services/market-participants/find-a-participant

TBNZ is a New Zealand registered financial service provider. The company registration can be verified at the New Zealand Companies Office Website at  https://companies-register.companiesoffice.govt.nz/

For Financial Adviser, Broker and Custodian and Anti-Money Laundering and Counter Financing of Terrorism purposes, TBNZ is supervised by the New Zealand Financial Market Authority (FMA).https://www.fma.govt.nz/compliance/amlcft/reporting-entities/

In this Broker Disclosure Statement you will find the following information: -

(a)          Contact details,

(b)          Fees,

(c)           Material interests, relationships or associations,

(d)          Remuneration,

(e)          Dispute resolution arrangements,

(f)           Criminal and civil litigation history,

(g)          Information relating to the broking service provided, and

(h)          Details of TBNZ’s indemnity insurance.

(i)            Record keeping

(j)            Privacy

A. Contact Details

TBNZ is an incorporated New Zealand limited company and can be contacted at the following address –

Level 16, 191 Queen Street, Auckland Central, Auckland, New Zealand,   

Email info_nz@tigerfintech.com

Telephone +64 9 393 8128

B. Fees

               The fees and charges applicable to the Services provided to you will be either:

               (a) the fees and charges agreed in writing in respect of any particular Services; or

(b) in respect of any other Services, fees and charges which are not subject to any such written agreement, the fees and charges notified by us to you from time to time. We may notify you of our fees and charges by including those fees and charges in our Client Agreement, by posting those fees and charges on our website or by notifying you otherwise in accordance with the Client Agreement General Terms and Conditions.

Our fees and charges include

(a)          brokerage and other fees, charges, duties and taxes at the rate or rates notified by us to you from time to time in a Schedule of fees and charges or Disclosure Statement, or in respect of a particular transaction via the Contract Note you receive;

(b)          any fees charged by an Agent and other charges incurred in effecting any transaction,

(c)           any charges or penalties imposed by another broker, Agent, or by NZX or other stock exchange including, without limitation, charges or penalties imposed as a result of late or non-delivery of scrip, holder identification particulars or any other information or requirements; and

(d)          any reasonable fees and charges we may impose for the purposes of complying with our obligations under the AML/CFT Act in relation to you or the Account.

               We may debit our fees and charges either:

(a) to the Account (including, without limitation, any of your Client Funds held in the TBNZ Client Funds Account); or

(b) to your Online Multi-Currency Account and, for this purpose, you irrevocably authorise us to instruct the Account Issuer to pay any such amount from your Online Multi-Currency Account when instructed to do so by us.

Currency Exchange Fees and transfer fees

Where a client deposits money to TBNZ in a foreign currency or a currency other than the denominated currency, the bank may charge a fee on the inward payment or conversion however this fee is not charged by TBNZ and is out of TBNZ’s control.

Default Interest

In an event of a failure to settle by you, interest may be charged on any unpaid amount at the Default Rate. Default Rate means the interest rate selected by TBNZ in its discretion, not being more than 10% per annum above the overdraft rate charged by the TBNZ's bankers on the TBNZ’s current account overdraft facility at the relevant time.

C. Material Interests, Relationships and Associations

TBNZ is a New Zealand Exchange (NZX) accredited Advising Market Participant. Consequently, TBNZ has entered into a contractual relationship with the NZX and has undertaken to abide by the NZX Market Participant Rules, July 2019. For Financial Adviser Broker and Custodian obligations, TBNZ is regulated by the New Zealand Financial Market Authority (FMA). For Anti-Money Laundering and Counter Financing of Terrorism purposes, TBNZ is a reporting entity also supervised by the New Zealand Financial Market Authority (FMA). TBNZ is 100% owned by Tiger Fintech (Singapore) PTE LTD, and our ultimate parent company is the NASDAQ listed Up Fintech.

TBNZ administers assets belonging to clients in a fiduciary capacity. This is a key area of regulation under the Financial Advisers Act 2008 (the “Act”) and the NZX Limited (“NZX”) Participant Rules (the “Rules”). The main purpose of broker conduct obligations under the Act and the Rules is to ensure that TBNZ accounts for, and safeguards, client assets at all times. The Act and the Rules dictate a high standard of custodianship and associated record keeping.

Investment money received from you or on your behalf will be held by TBNZ in a Client Funds Account on trust on your behalf, unless and until it is disbursed to settle transactions on your behalf or otherwise distributed in accordance with your instructions. You will be advised of the methods for depositing funds into the TBNZ client funds accounts when the account opening procedure is completed. You may choose at the depositing stage which of the available TBNZ client funds account to deposit their funds into. Thereafter, TBNZ may make treasury decisions regarding where those funds will be deposited depending upon financial, broking and capital regulatory requirements. However any account into which client funds are deposited will be a trust account for the benefit of TBNZ clients and the bank is not entitled to combine the account with any other account(s), or to exercise any right of set-off or counterclaim against the money in this account in respect of any sum owed to it on any other account of TBNZ, or that of any other person.

For the purposes of United States securities trading, Client’s funds that are lodged with TBNZ may be held and protected by TBNZ trade execution counterparty Interactive Brokers (‘IB’) in a Special Reserve Bank Account for the Exclusive Benefit of Client in the United States. IB is regulated by the U.S. Securities and Exchange Commission (SEC) as a registered Broker-Dealer, and the U.S. Commodities Futures Trading Commission (CFTC) as a registered Futures Commission Merchant. Funds deposited with IB on behalf of Client are protected under Subpart A of the Securities and Exchange Act (US) 1934 and subject to the Client protection regulations under the SEC rules.

Currently, all securities in custody are held by sub-custodians. The specific sub-custodian that holds securities in custody may depend upon the market upon which trades are executed and is at TBNZ’s discretion. However, each sub-custodian is authorized in its relevant jurisdiction to provide custodial services and TBNZ retains responsibility for compliance with all relevant legal and regulatory obligations relating to the treatment of client assets including securities. This service is available whether or not we have provided you with a financial adviser service in relation to the particular securities. Written terms and conditions are available in the TBNZ client agreement which apply to this service.

Client will be advised of the methods for depositing funds into the TBNZ client funds accounts when the account opening procedure is completed. Client may choose at the depositing stage which of the available TBNZ client funds account to deposit their funds into. Thereafter, TBNZ may make treasury decisions regarding where those funds will be deposited depending upon financial, broking and capital regulatory requirements. However any account into which client funds are deposited will be a trust account for the benefit of Client of TBNZ and the bank is not entitled to combine the account with any other account(s), or to exercise any right of set-off or counterclaim against the money in this account in respect of any sum owed to it on any other account of TBNZ, or that of any other person

D. Remuneration

The advisory services of TBNZ are provided by authorized personnel and are provided only for clients of TBNZ. TBNZ advisers may benefit by providing client advice where such advice leads to the Client giving TBNZ orders for execution for which TBNZ charges the Client fees. Advisers are not authorized to advise on securities where they have personal investments or interests without disclosing this fact to clients before providing such service.

In the course of transactions, TBNZ may receive or earn: fees and brokerage, including brokerage and trail commission from third parties and/or margin on exchange rates in respect of transactions involving foreign exchange (as described below); and in respect of new issues of securities, brokerage, placement and firm allocation fees from issuers of securities.  Fees, brokerage and trail commission paid to TBNZ by third parties will vary by product provider and product type. The level and/or amount of such fees, brokerage and trail commissions will typically be set out in any associated product offer documentation.

E. Dispute Resolution Arrangements

               If you have a complaint, you should contact TBNZ. TBNZ will endeavour to quickly and satisfactorily resolve the complaint. In the event that you are not satisfied, you are invited to put your complaint in writing to:

            The Compliance Manager

            Tiger Brokers (NZ) Limited

            Level 16, 191 Queen Street       

   Auckland Central

            Auckland, New Zealand

            complaints@tigerfintech.com

If we cannot agree on how to resolve the issue, or if you decide not to use the internal complaints scheme, you can contact Financial Dispute Resolution Service (“FDRS”). FDRS is an independent approved dispute resolution scheme for settling disputes between people and businesses, and the organisations that provide them with financial services and advice. This service will cost you nothing and will help us resolve any disagreements. You can contact Financial Dispute Resolution Service at: 

           Financial Dispute Resolution Service

           Freepost 231075

           P.O. Box 2272

           Wellington 6145

            Level 9, 109 Featherston Street

            Wellington 6011

            Telephone: 0508 337 337

            International calls: +64 4 910 9952

            Web: www.fdr.org.nz

            Email enquiries@fdr.org.nz

If you are not satisfied with our response to your complaint, as an alternative to FDRS you may contact either of these regulators directly at the following telephone numbers and email addresses:

Financial Markets Authority

Telephone: 0800 434 567

International calls: +64 3 962 2698

Website: www.fma.govt.nz/contact/make-a-complaint/

Email: questions@fma.govt.nz

F.  Criminal Convictions and Related Matters

Neither TBNZ, its directors, principal officers, nor investment advisers have been:

1. i) convicted of a crime involving dishonesty (as defined in Section 2(1) of the New Zealand Crimes Act 1961);
2. ii) subject to disciplinary proceedings;

iii)           the subject of an adverse finding by a court or the FMA in any proceeding that has been taken against them in their professional capacity; or

1. iv) adjudicated bankrupt.

G. Information relating to the Broking Service Provided by TBNZ

TBNZ is a  equities brokerage with a focus upon  providing clients with best broking service and global capital markets information and research. Established in October 2015, the Company is shaping the new era for share broking. We have defined our purpose as helping people, whether they are clients or those in the investment communities we operate our business in, to achieve their financial ambitions in the most direct, effective and efficient way.

TBNZ has been accredited and approved by NZX as an NZX Advising Firm with the ability to provide investment advice and/or Securities recommendations to clients. The Services which TBNZ currently provides to Clients include, without limitation:

(a) general investment advice;

(b) arranging for buying and selling Securities on your behalf;

(c) the investment of deposits (secured and unsecured) with financial institutions; and

(d) arranging for investments into Initial Public Offerings (“IPOs”) including equity, debt and quasi- debt Securities.

TBNZ believes that the needs of our clients are paramount and we recognize that equity markets around the globe form an important element in assisting our clients to achieve their investment goals; we have built on our strength in financial technology and client dedication to deliver an integrated service to meet our clients’ needs.

The Company is determined to build long-lasting relationships with our clients and stakeholders. This means we must always strive to exceed their expectations and incorporate core values into the day-to-day operation of the business: Respect, Excellence, Integrity and Responsibility.

H. Professional Indemnity Insurance

TBNZ maintains insurance cover at a level that it considers appropriate for the nature and risks of its business. The interests insured are Professional Indemnity insurance, Directors and Officers Liability insurance, and Statutory Liability Insurance. These policies are provided by QBE Insurance Group Limited. The policies are current for the period from 24 November 2019 to 24 November 2020 and are renewed annually. The cover extends to all business activities. As with all insurance, these covers have limitations and are subject to certain exclusions.

If you have a question about anything in this disclosure document or you would like to know anything more about TBNZ, please ask your adviser or our Compliance Manager. If you have a question about financial advisers generally, you can contact the FMA.

I.   Record Keeping

We keep a full set of accounting records showing the receipt and disbursement of all money and the movement of all securities and any other property held on your behalf. You may request details of your own transactions at any time. Depending on the services selected by you, you may be granted online access to view your account transactions. We hold account records for at least seven years. A fee may be charged for historical information requests.

J. Privacy

TBNZ collects personal information from you including but not limited to your name, address, contact details including your email address, tax file number, banking details and information on transactions carried out through TBNZ by you or any agent you appoint. TBNZ may use cookies, which also collect information from you. Clients of TBNZ may update personal details online via the Tiger Trade app.

TBNZ collects personal information from you as required by the laws to which we are subject (for instance Anti-Money laundering laws and taxation laws) in order to provide you with financial services (including custody services) and verify your identity. TBNZ will not sell, disclose or rent personal information collected without your consent.

TBNZ may be required by the law to disclose information about you to external parties including regulatory bodies. In such cases, TBNZ must fully cooperate with the relevant request.

You may choose to withhold certain information, but this may mean that TBNZ is unable to provide you with financial services.

TBNZ is bound by the Privacy Act 1993 and New Zealand Privacy Principles when we collect personal information from you. We take your privacy seriously, please review our Privacy Policy which may be viewed at itiger.com. We have taken steps to ensure that your personal information is kept both private and secure.