Financial Service Providers (Registration and Dispute Resolution) Act 2008

• Jurisdiction: New Zealand
• Coming into Force: 01 September 2022
• Reference: 2008 No 97
• Citation: 2008 No 97
• Year: 2008
• Record Number: DLM1109400
• Act Number: 97
• Type of Document: Act

Contenidos

• Financial Service Providers (Registration and Dispute Resolution) Act 2008
• Contents
• 1 Title
• 2 Commencement
• Part 1
• 2A Purposes of this Act
• 3 Overview
• 4 Interpretation
• 5 Meaning of financial service
• 6 Meaning of in the business of providing a financial service
• 7 Persons who are not in business of providing financial service
• 7A Application of Act
• 8 Act binds the Crown
• 8A Transitional, savings, and related provisions
• Part 2
• 9 Purpose of this Part
• 10 Registration and deregistration
• Part 1
• 11 Person in business of providing financial service must be registered and member of approved dispute resolution scheme
• 12 No holding out that in business of providing financial service unless registered and member of approved dispute resolution scheme
• 12A Registration for certain overlapping services not required
• Part 2
• 13 Qualifications for registration as financial service provider
• 14 Disqualified person
• 15 Application to be registered as financial service provider
• 15A Purpose of FMA's powers relating to registration
• 15B FMA may prevent registration of financial service provider
• 15C FMA may prevent registration regardless of whether applicant is otherwise qualified to be registered
• 16 Registration of financial service provider
• 17 Duty to notify changes relating to financial service provider
• 18 Deregistration of financial service provider
• 18A Purpose of FMA's powers relating to deregistration
• 18B Consideration of deregistration of financial service provider by FMA
• 18C FMA may direct deregistration regardless of whether section 18(1) applies
• 19 Notice of intention to deregister
• 20 Objection to proposed deregistration of financial service provider
• 21 Notification of deregistration of financial service provider
• 22 Reregistration of financial service provider
• 22A Registrar must not reregister financial adviser if direction has been made
• 22B Suspension of registration
• 22C Registration of financial advisers
• 22D Financial adviser may be deregistered if not engaged by provider for extended period
• 23 Information-sharing provisions between Registrar and Commission
• 23 Responsible financial service provider
• Part 3
• 24 Register of financial service providers
• 25 Operation of and access to register
• 26 Purposes of register
• 27 Contents of register
• 28 Annual confirmation
• 29 Registrar must amend register in certain circumstances
• 30 Registrar may refuse to accept document
• 31 Searches of register
• 32 Search purposes
• 33 When search breaches information privacy principle
• 34 Sharing information with other persons or bodies
• 35 Appointment of Registrar
• 36 Power of Registrar to delegate
• Part 4
• 37 Registrar’s inspection powers
• 38 Disclosure of information and reports
• 39 Exercise of powers under section 37 not affected by appeal
• Part 5
• 40 Offence also committed by director
• 41 Offence to make false or misleading representation
• 42 Appeals from Registrar’s decisions and FMA directions
• 43 Decisions or directions continue in effect until appeal
• 44 Regulations under Part 1 and this Part
• 44A Who financial adviser is treated as engaged by when engaged indirectly
• 44AA Validation of fees used to recover costs of other Companies Office registers, etc
• 44B FMA acts as licensing authority in relation to operators of financial product markets
• 45 Ministry must review and report on operation of this Part
• 46 Territorial scope
• Part 3
• 47 Purpose of this Part
• Part 1
• 48 Financial service provider must be member of dispute resolution scheme
• 48A When financial adviser is exempt from being member
• 49 Who are retail...