New Zealand's FSPR Alters Register Requirements
- The FSPR has changed a series of questions and components of its registration process.

Registration for new entities on the New Zealand Financial Services Provider Register (FSPR) has become an incredibly stringent process. There has been an increase in the number of questions asked of applicants, as well as a shift in the type of information being sought prior to registration on the FSPR is approved.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
An integral part of the FSPR application is that the entity or individual seeking registration must be able to show that they intend to provide financial services in New Zealand. This does not just mean having a physical office located in New Zealand, but includes the requirement that the individuals who hold Senior Management positions in the business be domiciled in New Zealand. In order to establish this, the FSPR may request copies of the following for each staff member involved in the business:
- Passports
- A certified copy of a VISA allowing the individual to live and work in New Zealand (where the individual is not a New Zealand citizen)
- Proof of residence.
These requests are becoming more frequent and highlight the attempt by the FSPR to crack down on entities intending to provide financial services using the guise of New Zealand Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.
In conjunction with applications becoming increasingly difficult, the FSPR also undertakes regular reviews of the Register and the financial services being provided by those entities listed on the Register. The FSPR has the power to strike off individuals or entities on the Register in accordance with Section 18(1) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008. The terms of deregistration under this section of the Act, allow an FSP to be struck off where the individual/entity:
- is no longer qualified to be registered;
- has failed to notify the FSPR of changes to company details;
- is not in the business of providing financial services;
- has been registered due to a false or misleading representation or omission;
- has failed to pay the statutory fees.
In just two (2) months, December 2015 and January 2016, the FSPR has removed two hundred and twenty-six (226) businesses and individuals from the Register in accordance with Section 18(1). The FSPR publishes deregistration notices on their website at the following link.
The New Zealand Financial Markets Authority (FMA) also provides public updates on unlicensed financial service providers. The “Unregistered Businesses” list is updated frequently and warns individuals not to use the services of the company. The Unregistered Business List can be accessed here.
Registration for new entities on the New Zealand Financial Services Provider Register (FSPR) has become an incredibly stringent process. There has been an increase in the number of questions asked of applicants, as well as a shift in the type of information being sought prior to registration on the FSPR is approved.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
An integral part of the FSPR application is that the entity or individual seeking registration must be able to show that they intend to provide financial services in New Zealand. This does not just mean having a physical office located in New Zealand, but includes the requirement that the individuals who hold Senior Management positions in the business be domiciled in New Zealand. In order to establish this, the FSPR may request copies of the following for each staff member involved in the business:
- Passports
- A certified copy of a VISA allowing the individual to live and work in New Zealand (where the individual is not a New Zealand citizen)
- Proof of residence.
These requests are becoming more frequent and highlight the attempt by the FSPR to crack down on entities intending to provide financial services using the guise of New Zealand Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.
In conjunction with applications becoming increasingly difficult, the FSPR also undertakes regular reviews of the Register and the financial services being provided by those entities listed on the Register. The FSPR has the power to strike off individuals or entities on the Register in accordance with Section 18(1) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008. The terms of deregistration under this section of the Act, allow an FSP to be struck off where the individual/entity:
- is no longer qualified to be registered;
- has failed to notify the FSPR of changes to company details;
- is not in the business of providing financial services;
- has been registered due to a false or misleading representation or omission;
- has failed to pay the statutory fees.
In just two (2) months, December 2015 and January 2016, the FSPR has removed two hundred and twenty-six (226) businesses and individuals from the Register in accordance with Section 18(1). The FSPR publishes deregistration notices on their website at the following link.
The New Zealand Financial Markets Authority (FMA) also provides public updates on unlicensed financial service providers. The “Unregistered Businesses” list is updated frequently and warns individuals not to use the services of the company. The Unregistered Business List can be accessed here.