New Zealand

New Zealand - Financial Service Providers Register (FSPR)

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Entities and individuals who:

  • live or have a place of business in New Zealand; and
  • are in the business of providing financial services (in NZ or overseas) must register to provide the particular financial service on the Financial Service Providers Register (FSPR).

The licenced services include:

  • Authorised Financial Advisers
  • Insurers
  • Non-bank Deposit takers
  • Registered Bands
  • Licensed Market Services
AFA

In your application to be an authorised financial advisor (AFA), you will need to supply the following information:

  • the reference code for the scope of your Financial Advisor Service;
  • details of any relevant criminal convictions (in New Zealand or overseas);
  • three testimonials (as described in the AFA Authorisation guide;
  • your ETITO registration number and copies of any alternative qualifications; and
  • your QFE's registration number (if applicable).

For more information on AFA: https://fma.govt.nz/compliance/role/authorised-financial-advisers/

Insurers

This is the resister of insurers who are licensed to carry on insurance business in New Zealand.
Insurers seeking to carry on insurance business in New Zealand are required to be licensed under section 19 of the Insurance (Prudential Supervision) Act 2010 (the Act), unless section 246 (1A) applies, which means that in some circumstances insurers retain a provisional licence where they are no longer writing new policies.

https://www.rbnz.govt.nz/regulation-and-supervision/insurers/licensing/register
Non-bank deposit takers

Non-Bank Deposit Takers (NBDT) are defined in section 5 of the Non-bank Deposit Takers Act 2013, and includes

  • a person that - offers debt securities to the public in New Zealand;
    and
  • carries on the business of borrowing and lending money, or providing financial services, or both;
  • A person that - is, or has been at any time since this section came into force, an NBDT;
    and
  • has debt securities that were issued to the public in New Zealand and that remain unpaid;
  • A person that - was a deposit taker (as defined in section 157C of the Reserve Bank of New Zealand Act 1989) on or after 3 August 2011 but before this section came into force;
    and
  • has debt securities that were issued to the public in New Zealand before this section came into force and that remain unpaid.

But not including:

  • a registered bank
  • a local authority
  • the Crown (as defined in the Public Finance Act 1989)
  • an entity that is in receivership
  • an entity that is in liquidation
  • a person, or a member of a class of persons, declare by regulations made under section 73(1)(d) not to be an NBDT for the purpose of this Act

Registered Banks

All banks operating in New Zealand must be registered with the Reserve Bank of New Zealand

https://www.rbnz.govt.nz/regulation-and-supervision/banks/register
Licensed market services

Listed below are the six licenced services introduced by the Financial Markets Condut Act 2013:

Manager of a registered scheme (other than restriced scheme, MIS).
Discretionary Investment Management Service (DIMS) provider.
Independent trustee of restircted scheme.
Derivatives issuer.
Providing a peer-to-peer lending servce.
Providing a crowd funding service.

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