DISCLOSURE STATEMENT

This Disclosure Statement provides you with important information about OM Financial Limited and the services that we may provide to you.

This Disclosure Statement is for the purpose of providing useful information regarding OMF. Authorised Financial Advisors and Registered Financial Advisers who are employed by OMF (herein referred to as Advisers) have separate disclosure obligations under the Financial Advisers Act 2008 and the Financial Advisers (Disclosure) Regulations 2010. These disclosure statements are available to you free of charge on request and to receive a copy please contact us on +64 9 520 9310.

Capitalised terms used in this Disclosure Statement are defined in OM Financial Limited’s General Terms and Conditions unless otherwise specified.

About OMF

OM Financial Limited (“OMF”) is a 100% New Zealand owned foreign exchange and derivatives firm providing a 24 hour financial brokerage service to clients.

OMF is a registered financial service provider (FSP15422) and must comply with obligations under the Financial Services Providers (Registration and Dispute Resolution) Act 2008, the Financial Markets Conduct Act 2013 and the Financial Advisers Act 2008.

Further details can be found on the Financial Service Provider Register (“FSPR”) which can be viewed http://www.business.govt.nz/fsp.

OMF is also a NZX Trading & Advising Firm (Derivatives), an NZX Advising Firm (Equities) and a Clearing and Depository Participant (Derivatives and must comply with NZX Rules. As a Participant, OMF and its employees are subject to regulation and supervision by NZX to ensure compliance with these Rules.

Types of Service

Full details of the services OMF provides can be located under the ‘Services’ section of our website.

Qualifications and Experience

The qualifications and experience of each of our Dealers and Advisers can be viewed under the ‘People’ section of our website and in their individual disclosure statements.

What happens when your advisor is unavailable?

As OMF runs a 24 hour service to clients it is likely that you will speak to another member of the team other than your main contact. You should be aware that under the Financial Advisers Act 2008, the team member may be limited in the scope of advice that they can give you. Should this occur you will be referred to a person who will be authorised to assist you in your request.

Complaints and Dispute Resolution

In the event that you wish to make a complaint about our service, you should make the complaint known in writing to the Operational Risk and Compliance Manager. We will let you know that your complaint has been received and the Operational Risk and Compliance Manager will make all necessary efforts to respond to your complaint within 10 working days.

In the first instance the Operational Risk and Compliance Manager will try to resolve the dispute between the parties. However, if a satisfactory outcome cannot be achieved the matter should be referred in writing to either our external disputes resolution provider, Financial Services Complaints Limited (“FSCL”):

Financial Services Complaints Limited (FSCL) or to NZX at : NZX Regulation
P O Box 5967 NZX Limited
Lambton Quay P O Box 2959
Wellington 6145 Wellington 6145
NEW ZEALAND NEW ZEALAND
Phone: 0800 347 257 Phone: +64 4 472 7599
Email: [email protected]

No Criminal Convictions or Other Relevant Offences

OMF, the principal officers of OMF, and the Advisors have not been convicted of any crime under any financial services legislation or any offence involving dishonesty. No principal officer or Advisor has been a director or principal officer of a body corporate at the time the body corporate committed any such crime or offence, nor been adjudicated bankrupt, nor prohibited by law or a court from taking part in the management of a company or business, nor been the subject of an adverse finding by a court in any proceeding against them in their professional capacity, nor been expelled from (or prohibited from being a member of) a professional body. OMF has not been placed in statutory management or receivership.

Fees and charges

Our current indicative fees are set out below and are exclusive of GST (if any). Actual fees will be as agreed between you and us, and are subject to change from time-to-time. We will give you notice of any changes to the fees and charges before providing the service to you or if this is not possible as soon as practicable after that service is provided to you.

Interest (Not calculated on OMF cTrader accounts)
Debit interest charged on negative balances, above OMF’s base rate Up to + 2.0%
Credit interest paid on positive balance, below OMF’s base rate Up to – 2.0%
Margin & Deliverable FX Commission Rate
% Quoted Amount (converted to base CCY) Up to 0.1%
Foreign currency telegraphic transfer
- When paid by the OMF account holder
- When paid by the beneficiary account holder

NZD $45.00
NZD $20.00
Same day NZD TT and foreign currency deposits NZD $10.00
Futures & Options on Futures Commission Rates (Payable at the time of trade) Maximum Per Contract Lot
USD/EUR/AUD/NZD payable in the currency of the contract, not including exchange fees $50.00
GBP £30.00
HKD $385.00
JPY ¥5,500
Equities Commission Rates (Payable at the time of trade)
Equities, not including exchange fees Up to 1.0%
Share Contracts for Difference (CFDs) – excluding US and CAD CFDs Up to a max 0.5%
US and CAD Share CFDs Up to a max of US 7.5 cents/CAD 15 cents per share.
Equity Options (USD/CAD/AUD/NZD) subject to a minimum of $50.00 per trade and payable in the currency of the contract. Maximum of $7.50 per lot
Index Options (USD/CAD/AUD/NZD) subject to a minimum of $50.00 per trade and payable in the currency of the contract. Maximum of $10.00 per lot
Transferring securities in and out of custody USD 15.00 per transfer
Corporate actions Up to a max of NZD $50.00
Exchange fees Actual costs passed on

Holding charges may apply depending on the product you are trading. Please refer to the relevant Product Disclosure Statement for more details.

General Rights Regarding Securities Transactions

OMF will use its best endeavours to keep you informed of certain events that affect your securities, such as rights issues, bonus issues, takeovers, company reconstructions, any other corporate action and impending exercise or expiry of options, warrants and convertible bonds, and will act in accordance with your instructions in relation thereto. OMF shall have no duty or responsibility to attend any meetings or to vote in respect of any of the securities or in respect of proxies received by it or any of its agents in respect of any securities or for sending any proxies or giving any notice of the receipt of such proxies to you. However, OMF will act in accordance with your written instructions in this regard.

Records

OMF's accounting records contain day to day entries of all client money and property received by or in the possession or control of OMF. Records of all payments and disbursements of client money and property are also maintained. Access to these records is not provided as OMF provides deal confirmations and monthly statements to clients.

Auditing

The accounting records and internal controls of OMF, (and the receipt, holding, and disbursement of the client funds), are audited by externally qualified auditors.
The Auditors for OMF are PricewaterhouseCoopers.

Professional Indemnity Insurance

OMF Limited maintains comprehensive professional indemnity insurance which is appropriate for the size and the nature of the risks the business faces.

Interests and Relationships

All OMF employees are paid a fixed salary, although they may be entitled to a discretionary profit share payments depending on the company’s profitability and their individual performance and contribution to that profitability.

OMF will, from time to time act as principal in foreign exchange dealing.

OMF may have additional trading arrangements or appoint agents for the clearing and settlement of securities and derivative contracts.

Full details of these are contained in OMF’s General Terms and Conditions.

Funding Your Account

You may fund your account by direct credit, internet transfer or by TT using the OMF client bank account details found on www.omf.co.nz.

Any transfers into OMF’s Client Bank Account must originate from a bank account in the same name as your OMF account as any deposits from third parties or unidentified origin may be subject to additional compliance review. This could result in a delay in allocating funds to your OMF account. OMF reserves the right to return any third party funds to the remitting bank.

Bank Accounts

When making your deposit please ensure you use your account number as a reference on the transfer to ensure the funds are allocated to your account on a timely basis.

OMF has a strict ‘No Cash” policy. Please do not deposit cash into the client bank account. If cash is deposited you will be contacted and a 15% cash handling fee will apply.

Accounts

Funds received by OMF from clients are deposited by us into a segregated bank account and are held on trust by OMF as a bare trustee until disbursed in accordance with the client’s instructions or in order to meet the default of any client of the firm or to pay any liability or costs owing by any client to the firm. As an NZX Participant and Derivatives firm, the holding and distribution of client funds is governed by NZX Participant Rules, NZX Derivatives Rules and various Client Funds Regulations (“the Regulations”). This separation of clients’ funds from the firm’s own capital ensures the company can never use client funds for its own purposes. All operations are subject to supervision by NZX.

Operational Risk and Compliance Manager

If you require any clarity on any of the information provided please contact OMF's Operational Risk and Compliance Manager:

Attn: Operational Risk and Compliance Manager
P.O. Box 5830
Wellesley Street
Auckland
New Zealand
Phone: +64 9 520 9326
Email: [email protected]