The role of the Financial Service Providers Register (FSPR)

Our objectives and the information we hold

The FSPR is a searchable register of people, businesses and organisations that provide financial services in New Zealand.

The objectives of the FSPR

The main objectives of the register are to:

  • increase the level of transparency of public information related to FSPs, their licensed services and their related Dispute Resolution Schemes (DRS)
  • make sure people with specific criminal convictions are prevented from being involved in the management of FSPs
  • help New Zealand to comply with its international obligations to prevent money laundering and the financing of terrorism, and
  • provide a single place online where FSPs can meet their registration and authorisation requirements.

The FSPR has been established under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

 

Who manages the FSPR

The FSPR is managed by the Companies Office, business unit within the Ministry of Business, Innovation and Employment.

The Registrar of Companies is responsible for the FSPR.

Information we hold on the FSPR

Information we hold on the FSPR:

  • helps us meet our objectives
  • assists FSPs to comply with legislation, and
  • provides help and protection to customers of FSPs.

Types of FSPs

The register holds information about different types of financial service providers, including:

  • building societies, credit unions and registered banks
  • credit providers and finance companies
  • financial advisers — including investment planners
  • foreign currency exchange dealers and money changers
  • fund managers, investment portfolio managers, and brokers who provide broking or custodial services
  • insurers, and
  • issuers.

Not all people or businesses providing financial services have to register on the FSPR. There are some exemptions such as lawyers, chartered accountants, tax agents and real estate agents who provide financial services as a necessary part of their practice.

Details about each FSP

The register contains information about each registered FSP, including:

  • their name, along with any trading names
  • their registration number (FSP number) and registration date
  • their business address
  • the name and address of the DRS an FSP belongs to, if it needs to
  • the financial services they’re registered to provide
  • the licensed services they provide, and the name and address of any relevant licensing authority — for example, the Financial Markets Authority or the Reserve Bank of New Zealand
  • details of any changes to their registration.

Licensed services

The FSPR also has information about any licenses or authorisations FSPs have under the:

  • Reserve Bank of New Zealand Act 1989
  • Insurance (Prudential Supervision) Act 2010
  • Financial Advisers Act 2008
  • Financial Markets Supervisors Act 2011, and
  • Financial Markets Conduct Act 2013.