FSP is a searchable online information registry for individuals, businesses and institutions providing financial services in New Zealand.
According to the New Zealand financial dispute resolution act passed on September 28, 2008, all individuals and organizations providing financial related fields in New Zealand shall be legally registered and declared. Since 16 August 2010, the New Zealand registry has been accepting applications for registration of financial service providers. Anyone providing financial services to customers in New Zealand or overseas is required to register with the FSP.
The FSP has access to important information about financial service providers, including registration types. (check to see if they can offer such services before you invest.) Please note that the FSP registration number of FSPR does not mean that it is regulated, but is equivalent to the ordinary business registration number.
The registry of financial service providers, created by government agencies as a body of government, aims to promote greater fairness and transparency in the financial services market. The purpose of registration is to make financial service providers directly accessible to the public and regulators.
If the financial services company is regulated by: New Zealand reserve bank Act (1989), insurance regulation Act (Act2010), financial advisers Act (2008) financial markets regulation Act (2011), financial market conduct Act (2013).