This report describes the work we’ve undertaken since 2014 to prevent the misuse of the New Zealand Financial Service Providers Register (FSPR), which reflects our mandate to protect the integrity and reputation of New Zealand’s financial markets.
The FSPR is a public register of financial service providers. In December 2010, registration became compulsory for businesses and individuals providing financial services.
Some businesses and individuals try to use FSPR registration to give a misleading impression that their activities are regulated by New Zealand authorities or have a significant connection to New Zealand. We have had to work hard to reinforce the message that FSPR registration does not mean the provider of financial services is either licensed or regulated by the FMA.
This report also signals our commitment to continue this work and sets out our intended focus on New Zealand-based directors and company service providers who facilitate registrations. We want to help businesses, individuals and their advisers understand the responsibilities and requirements of FSPR registration.