Plain language law

New Zealand law explained for everyone

Financial Service Providers (Registration and Dispute Resolution) Act 2008

Registration - Register of financial service providers - Register established

27: Contents of register

You could also call this:

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

The register must contain important information about each registered financial service provider. This includes their name and business address, and the name and address of the dispute resolution scheme they belong to. It also lists the types of financial services they are registered for.

For licensed providers, the register shows what licensed service they offer and the name and address of the authority that licensed them. If a provider is registered to give financial advice for another company, the register will say so and include that company’s details.

For people certified under part of the Credit Contracts and Consumer Finance Act, the register will show if they are a creditor or mobile trader, and include the Commerce Commission’s details as the certifying authority.

The register can also include any other information required by regulations.

The Registrar can add a warning note to a provider’s entry if they have asked the provider for information, or if they or the FMA are thinking about removing the provider from the register. The Registrar will remove this warning when it’s no longer needed.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=DLM1109530.

Topics:
Money and consumer rights > Banking and loans Money and consumer rights > Consumer protection Business > Industry rules
Previous

26: Purposes of register, or

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

Next

28: Annual confirmation, or

"You must tell the Registrar about your money business every year"

Part 2 Registration
Register of financial service providers: Register established

27Contents of register

  1. The register must contain the following information about each registered person (to the extent that the information is relevant):

  2. the registered financial service provider’s name and business address:
    1. the name and business address of the approved dispute resolution scheme of which the registered financial service provider is a member:
      1. the type or types of financial service for which the registered financial service provider is registered:
        1. in relation to a licensed provider,—
          1. the relevant licensed service:
            1. the name and business address of the relevant licensing authority:
            2. if the provider (A) is registered under section 22C, a statement as to whether A is engaged by a financial advice provider (B) to give regulated financial advice on B’s behalf and, if so, B’s name and business address:
              1. in relation to a person that is certified under Part 5A of the Credit Contracts and Consumer Finance Act 2003,—
                1. whether the person is a creditor or a mobile trader:
                  1. the name and business address of the Commerce Commission, as the certifying authority:
                  2. any other information prescribed in regulations.

                    1. 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—

                    2. a request for information has been made by the Registrar under this Act in relation to that person; or
                      1. the Registrar or the FMA is considering any matters relating to the deregistration of that person under this Act.

                        1. 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.

                        Notes
                        • Section 27(1)(b): amended, on , by section 22(1) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
                        • Section 27(1)(ba): inserted, on , by section 20 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
                        • Section 27(1)(ca): inserted, on , by section 83 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
                        • Section 27(1)(cb): inserted, on , by section 65 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).
                        • Section 27(2): inserted, on , by section 22(2) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
                        • Section 27(3): inserted, on , by section 22(2) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).