Section 79(1)(cb): inserted, on 7 June 2014, by section 43(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). Section 5(1) (e): amended, on 6 June 2015, by section 7 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). In addition to the information referred to in subsection (1), the Registrar may, if the Registrar thinks it is appropriate, insert a note of warning in the register in relation to a registered person if—, a request for information has been made by the Registrar under this Act in relation to that person; or. Section 41(2): amended, on 1 July 2013, by section 413 of the Criminal Procedure Act 2011 (2011 No 81). Section 79(1B): inserted, on 7 June 2014, by section 43(4) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). The FSPR has been established under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 . Section 33: replaced, on 1 December 2020, by section 217 of the Privacy Act 2020 (2020 No 31). Section 44(1AA): inserted, on 9 April 2019, by section 88(6) of the Financial Services Legislation Amendment Act 2019 (2019 No 8). Part 2 and section 48 come into force on a date to be appointed by the Governor-General by Order in Council; and 1 or more orders may be made that do either or both of the following: bring different provisions into force on different dates: bring provisions into force on different dates in respect of different types of financial service or financial service provider. Section 3(3): amended, on 1 July 2014, by section 5(2) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). Measures Page list Program Councils ... Financial Services Agency, The Japanese … For those basic inquires, call the Provider Support Line at (866) 569-3522; for TTY dial 711. Section 42(3)(b): amended, on 1 July 2014, by section 26(4) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). Section 49: replaced, on 1 July 2010, by section 27 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). Section 27(1)(b): amended, on 1 July 2014, by section 22(1) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). The Minister may only make a decision under subsection (1) after consultation with—, The Minister must, as soon as practicable after deciding the application,—, notify the applicant of the decision; and, if the decision is to approve the application, ensure that—, the approval is published in the Gazette; and. Section 2A: inserted, on 1 July 2014, by section 4 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). The register must contain the following information about each registered person (to the extent that the information is relevant): the registered financial service provider’s name and business address: the name and business address of the approved dispute resolution scheme of which the registered financial service provider is a member: the type or types of financial service for which the registered financial service provider is registered: the name and business address of the relevant licensing authority: any other information prescribed in regulations. The chief executive must appoint a Registrar of Financial Service Providers under the Public Service Act 2020. Section 4 conveyancing practitioner: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). If the Registrar accepts that an applicant is qualified to be registered as a financial service provider, the Registrar must—. for any other reason that is prescribed by regulations made under this Act. that there is a notice period before the withdrawal of the scheme’s approval during which the person responsible for the scheme may object, under section 58, to the intended withdrawal. Section 27(1)(ba): inserted, on 1 July 2010, by section 20 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). The person responsible for an approved dispute resolution scheme must issue rules about that scheme, and those rules must provide for, or set out, the following: which types of financial service providers may be members of the scheme: that the types of financial service providers referred to in paragraph (a) must be accepted as members of the scheme, unless—, refused membership for a reason set out in paragraph (ba); or. Schedule 2: amended, on 1 April 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). The report on the review must include recommendations to the Minister on whether any amendments to the Act concerning the matters dealt with in this Part are necessary or desirable. Every financial service provider must be a member of an approved dispute resolution scheme in respect of a financial service provided to a retail client. A person may vary or revoke a notification in the same way as the notification may be given. Section 44(1)(ba): inserted, on 9 April 2019, by section 88(5) of the Financial Services Legislation Amendment Act 2019 (2019 No 8). Section 14(2)(ca): inserted, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). The Governor-General may, by Order in Council on the recommendation of the Minister, make regulations for all or any of the following purposes: declaring a class of contract to be a contract of insurance for the purposes of this Act: prescribing a financial service for the purposes of section 5(1)(ma) or (n): prescribing circumstances for the purposes of section 7A(1)(d): prescribing a threshold or thresholds for the purposes of section 7A(2)(c) and the circumstances in which that paragraph does not apply: exempting any service or person or class of service or persons from the application of this Act, and prescribing the terms and conditions (if any) of the exemption: providing for the circumstances in which section 12A applies and prescribing terms and conditions for the purposes of that section: specifying information or documents to be included in, or provided with, applications or other documents required under this Act, and requiring documents to be signed by specified persons: prescribing information to be provided under section 16(1A), the time or times at which that information must be provided, and other matters relating to the manner in which the information is provided: specifying warnings or other information about, or in connection with, the registration of a financial service provider that must be included in advertising for the service, in information or documents provided to persons who receive or may receive the service, or otherwise in information or documents of the classes specified in the regulations (for example, a warning that registration does not mean that the provider is subject to active regulation or oversight): prescribing the circumstances in which the duty referred to in paragraph (bb) applies and the manner in which the duty must be carried out: providing for matters referred to in section 22D(4): prescribing procedures, requirements, and other matters, not inconsistent with this Part or with the purposes described in section 26, relating to the register, including matters that relate to—. None of the following persons are in the business of providing a financial service for the purposes of this Act to the extent this subsection applies to them: a lawyer, incorporated law firm, conveyancing practitioner, qualified statutory accountant, tax agent, or real estate agent providing a service in the ordinary course of business of the relevant kind: a public service agency as defined in section 5 of the Public Service Act 2020: the Reserve Bank of New Zealand (and any subsidiaries): the statutory entities listed in Schedule 1 of the Crown Entities Act 2004 (other than Public Trust): a person engaged in terminating the business of a financial service provider after that provider has been deregistered: a non-profit organisation in respect of free financial services: an executor, administrator, or trustee in respect of services provided in the administration of an estate or a trustee in respect of services provided to beneficiaries of a family trust: a nominated representative (within the meaning of the Financial Advisers Act 2008) while acting in that capacity: an employer while providing services to enable employees of the employer to obtain rights or benefits under a retirement scheme (as defined in section 6(1) of the Financial Markets Conduct Act 2013), being a scheme in which that employer participates for the benefit of its employees: any person exempted, under regulations made under this Act or by or under any other enactment, from the application of this Act or from the requirement to register under this Act (to the extent of the relevant exemption). A person who is convicted of an offence under subsection (1) is liable on conviction,—, in the case of an individual, to imprisonment for a term not exceeding 2 years or to a fine not exceeding $100,000, or to both; or. Section 29(e): replaced, on 1 July 2010, by section 22 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). Registration All financial service providers must comply with the requirements of the Financial Service Providers (Registration and Dispute Resolution) Act 2008. A notification may be specific to a particular service, or class of services, or may be general for all services provided by the financial service provider to whom it is given. Section 18(1)(ab): inserted, on 30 May 2017, by section 100(1) of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12). allocate a due date for the provider’s annual confirmation, notify the provider of that date, and notify that date on the register. A is not required to be registered under this Act, or to be a member of an approved dispute resolution scheme, if A would not have been so required before the commencement of section 7A. Section 49(2)(d): replaced, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). if a licensing enactment requires the person to be a licensed provider, the person is, or will be (on and from commencing to be in the relevant business), a licensed provider. The informed the Minister of adequate arrangements that it has made, or will make, to facilitate the transfer of members of the existing scheme to another approved dispute resolution scheme or schemes. In proceedings under this section, the court may make such orders as it thinks fit. The Minister may withdraw the approval of an approved dispute resolution scheme after a notice period in accordance with sections 57 and 58 for any or all of the following reasons: there has been a breach of a prescribed requirement: there has been a failure to comply with the rules about the scheme: the rules about the scheme do not, or no longer, comply with the requirements of section 63: the person responsible for the scheme has not maintained or published a list of current members as required by section 62: the person responsible for the scheme has not published the rules as required by section 64: the person responsible for the scheme has not supplied the Minister with any of the following: an annual report as required by section 68: any further information requested by the Minister under section 69: an independent review as required by the rule described in section 63(1)(q): the person responsible for the scheme has not notified the Minister in accordance with section 65 before changing the rules about the scheme: the person responsible for the scheme has not complied with section 67: the scheme no longer satisfies the principles in section 52(2). The Registrar must remove a note of warning inserted under subsection (2) if the Registrar is satisfied that the reasons for inserting it no longer apply. Section 78 heading: amended, on 1 July 2014, by section 41(1) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). Thank you for contributing to our brokerage on so many different levels. The Registrar must notify a financial service provider and any relevant licensing authority of the Registrar’s intention to deregister the provider under section 18(1). The person responsible for an approved dispute resolution scheme must make copies of its annual report available for inspection by the public, free of charge,—. is ordinarily resident in New Zealand (within the meaning of section 4 of the Crimes Act 1961) or has a place of business in New Zealand, regardless of where the financial service is provided; or, is, or is required to be, a licensed provider under a licensing enactment; or. Section 57(4): inserted, on 1 July 2014, by section 34 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). For more information about the registration process, refer to the PRF Reporting Portal User Guide and the Reporting Portal FAQs. The Registrar may use any information communicated to the Registrar by a person or body referred to in subsection (4) in the Registrar’s exercise of the Registrar’s powers or the performance of the Registrar’s functions and duties. In this Act, in the business of providing a financial service means carrying on a business of providing or offering to provide a financial service (whether or not the business is the provider’s only business or the provider’s principal business). Section 5(1)(m): replaced, on 1 July 2010, by section 8(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). Section 4 licensed service: replaced, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). Section 7: replaced, on 1 July 2010, by section 9 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). Section 77: repealed, on 1 July 2010, by section 33 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41). a licensing authority identified in Schedule 2: the person responsible for an approved dispute resolution scheme: a prescribed agency that carries out supervisory or enforcement functions relating to money laundering or terrorist financing: a prescribed overseas agency that is the equivalent of the Registrar or of a body referred to in paragraphs (a) to (c), but only where there is a written agreement between the overseas agency and the Minister about sharing the information. Section 4 credit contract paragraph (b)(ii): repealed, on 1 July 2014, by section 6(1) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). contracts specified in section 15(1)(a) or (b) of that Act: contracts under which no interest charges, and no credit fees, as defined in section 5 of that Act are payable, creditor has the same meaning as in section 5 of the Credit Contracts and Consumer Finance Act 2003, director has the meaning given by section 6(1) of the Financial Markets Conduct Act 2013, any material, whether or not it is signed or otherwise authenticated, that bears symbols (including words and figures), images, or sounds, or from which symbols, images, or sounds can be derived, and includes—. Section 42(2): amended, on 1 July 2014, by section 26(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34). If the Minister withdraws a scheme’s approval, the scheme’s approval is withdrawn from the date the person responsible for the scheme is notified under section 60(a). Section 44(2): replaced, on 9 April 2019, by section 88(7) of the Financial Services Legislation Amendment Act 2019 (2019 No 8). Section 63(3): inserted, on 1 July 2014, by section 36(7) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).

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