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Financial Service Providers (Registration and Dispute Resolution) Act 2008

Registration - Register of financial service providers - Register established

26: Purposes of register

You could also call this:

“What is the list of financial service providers for and how does it help people?”

The register is a list of financial service providers. It has several purposes:

You can use the register to find out about financial service providers. You can see their names and where they work. You can also find out which dispute resolution scheme they belong to if they need to be part of one. The register shows what kind of financial services they offer and if they have a license for their service.

The register helps you make decisions about financial services. It gives you information that can help you choose which financial service provider to use.

The register also helps people who have jobs related to this law or other laws. They can use the information in the register to do their work.

Lastly, the register helps New Zealand follow international rules about financial services.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1109529.

Topics:
Money and consumer rights > Banking and loans Money and consumer rights > Consumer protection Business > Industry rules
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25: Operation of and access to register, or

"How the list of information is kept and who can see it"

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27: Contents of register, or

"List of important details about financial service providers kept in an official record"

Part 2 Registration
Register of financial service providers: Register established

26Purposes of register

  1. The purposes of the register are—

  2. to enable the public and any person referred to in paragraph (b) to—
    1. identify registered financial service providers; and
      1. access information about—
        1. the name and business address of a registered financial service provider; and
          1. the approved dispute resolution scheme of which a registered financial service provider is a member (if required by section 48); and
            1. the type or types of financial service for which a financial service provider is registered; and
              1. whether a registered financial service provider provides a licensed service; and
            2. to enable the public to otherwise access information to assist members of the public to make decisions relating to the provision of financial services; and
              1. to assist any person in the exercise of the person’s powers or the performance of the person’s functions or duties under this Act or any other enactment; and
                1. to conform with New Zealand’s obligations under the FATF Recommendations.

                  Notes
                  • Section 26(a)(ii)(B): amended, on , by section 21 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
                  • Section 26(a)(ii)(BA): inserted, on , by section 19 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
                  • Section 26(ab): inserted, on , by section 82(1) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
                  • Section 26(b): amended, on , by section 82(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).