Addressing misuse of the Financial Service Providers Register
In December 2020, regulations which include measures to address the misuse of the Financial Service Providers Register (FSPR) were made.
The regulations include a minimum threshold that must be met by certain entities to register on the FSPR and require certain providers to include a warning statement that registration on the FSPR does not mean active regulation in New Zealand.
Financial Service Providers (Registration) Regulations 2020(external link) — New Zealand Legislation website
Financial Service Providers (Exemptions) Amendment Regulations 2020(external link) — New Zealand Legislation website