Tabuteau FletcherFLETCHER TABUTEAU (NZ First): It is a pleasure to take a call on behalf of New Zealand First. I just begin by asking a genuine question of the members opposite: why are they so reluctant to take a call on legislation that by their own Minister of Justice's account will solve the problem of international money-laundering in New Zealand? They should all be proud to stand up in this House and tell the New Zealand public just what it will mean for Brand New Zealand for example. So it is with great disappointment that I begin my contribution on behalf of New Zealand First.In beginning it I would like to acknowledge David Parker and his words to the House. I would like to agree with his statements regarding the financial adviser legislation. As an educator in the tertiary sector specifically with regard to financial legislation I spent many years trying to counter the overenthusiasm of the legislation to combat the dearth of qualified financial advisers in the market who despite years of experience and despite years of advising clients on financial decision making could not now advise clients. It created quite a situation in the industry which still exists. Essentially it means that New Zealanders are not able to access good and sound advice from those who are best qualified to do it. It was a good example Mr Parker of overzealous legislation.I now turn to the Minister's contribution. I agreed with her wholeheartedly when she—and I hope I quote specifically—spoke of the lifeblood" of organised crime. She said that it funds their lifestyle and it funds and enables their illegal practices and that by allowing this we ensure that legitimate business suffers. She said that this legislation will extend and protect our good reputation. But Minister this is not a new problem. That is the issue that I have and will speak to in the House today. Since 2003 Minister this has been a problem that has been brought to New Zealand's attention. In fact just as examples we were struck off the UN's white list of financial integrity not that long ago. We had the Panama Papers we had the Shewan report and they all made it very clear that New Zealand has been complicit for decades.I would like to make reference firstly to the Financial Action Task Force on Money Laundering. What it said was that the main priority of this legislation just by way of background has been to complete the revision of 40 recommendations with regard to the international anti - money-laundering (AML) standard. Its publication—and I pick a few more pertinent details—said that the extension of anti - money-laundering to designated non-financial businesses and professions such as casinos real estate agents dealers of precious metal stones accountants lawyers notaries and independent legal professions trusts and company services should be acted upon. It said that in 2003 and New Zealand was a member of that organisation—and still is a member—and the Government of the time said we would act. The task force also said that key institutional measures notably regarding international cooperation need to be invigorated along with the improvement of transparency requirements through adequate and timely information on the beneficial ownership of legal persons such as companies arrangements such as trusts. Again I say for the benefit of the members opposite that this was said and reported to New Zealand in 2003.Then in 2009 when this legislation first came up the Hon Todd McClay said: "This bill will ensure that New Zealand's laws against money-laundering and its laws to counter the financing of terrorism are up to international standards." He then proceeded to say: "Well there is money-laundering in New Zealand [and it] comes from the illegal drug trade [and it] is too much and we must do much more about this." It was surprising to note the Minister's own contributions at the time. Then he concluded in his contribution to the House that something must be done and that the National Government would act and "the sooner those who see New Zealand as a place where they may be able to launder their illegally gained funds will realise that we are taking this issue seriously." That was in 2009. We were first told about it in 2003 then we created legislation what 6 years later and the Hon Todd McClay told us that New Zealand would act on it. Here we are now still struggling to bring in legislation that would bring New Zealand in line with requirements from that financial authority that was first published in 2003. If you were there and listening to the Minister at the time you would have thought that something was going to be done and the Government was going to act.What we have been trying to deal with here in New Zealand is a very real attack on New Zealand's way of life. This Government has deliberately done nothing for 8 years. Then in 2015 Roger Wilkins came to New Zealand and said that the audit of Australia should be a wake-up call to New Zealand. He said then in regard to that Government's efforts to counter money-laundering that we would rate worse than Australia. He said that New Zealand should move as quickly as possible and not sit around and do it at the last moment and yet here we are in 2017. This Government has been letting down the rest of the world. I put it to the Government that it has been letting down Brand New Zealand as for 9 years that Government has done as little as possible to combat what has been a very real problem.I quote former Prime Minister Key. He told a post-Cabinet press conference that a remaining chunk of legislation to complete the country's AML obligations would be hurried through. Then justice Minister Amy Adams said that a second tranche of legislation reform would extend any anti - money-laundering requirements to professions and businesses dealing in high-value goods such as lawyers accountants and real estate agents.To their credit here we are now albeit a couple of years later. I acknowledge that in May 2017 the Government was back on message and we have finally managed to bring this to the House. But I put it to them that they have been aware of this problem for 9 years and I highlight the issue by using a police report. Research released just last year said unequivocally that the law of the time was allowing lawyers accountants and real estate agents to launder as much as $1.6 billion a year. Officials and the Government knew about this issue before the police report. They knew it before the police were forced to put it in a public report.In my conclusion I want to assure the Government members that we will support this legislation through to the select committee process and that is our only commitment at this stage but in doing so we will earnestly endeavour to help in their efforts to combat international money-laundering in New Zealand. Let us indeed take this to the select committee and rub this stain that has shadowed New Zealand's reputation for far too long."