Registering the Broker Dealer In New Zealand

A Broker Dealer within the New Zealand jurisdiction that caters to non-New Zealand residents is any person or Company providing Financial Services from or within New Zealand, including Banks, Building Societies, Brokers, Credit Unions, Currency Exchangers, Finance Companies, Financial Advisers, Investment Managers, Insurers among others. By registering the Financial Services Provider (FSP) one can:

  • (a) a financial adviser service:
  • (ab) a broking service:
  • (b) acting as a deposit taker as defined in the Reserve Bank of New Zealand Act 1989:
  • (c) being a registered bank:
  • (d) keeping, investing, administering, or managing money, securities, or investment portfolios on behalf of other persons:
  • (e) providing credit under a credit contract:
  • (f) operating a money or value transfer service:
  • (g) issuing and managing means of payment (for example, credit and debit cards, cheques, travellers’ cheques, money orders, bankers’ drafts, and electronic money):
  • (h) giving financial guarantees:
  • (i) participating in an offer of securities to the public in either of the following capacities (within the meaning of those terms under section 2(1) of the Securities Act 1978):
    • (i) as an issuer of the securities:
    • (ii) as a promoter:
  • (ia) acting in any of the  following capacities (within the meaning of those terms under section 2(1) of the Securities Act 1978) in respect of securities offered to the public:
    • (i) as a trustee:
    • (ii) as a unit trustee:
    • (iii) as a superannuation trustee:
    • (iv) as a manager:
  • (j) changing foreign currency:
  • (k) entering into derivative transactions, or trading in money market instruments, foreign exchange, interest rate and index instruments, transferable securities (including      shares), and futures contracts on behalf of another person:
  • (l) providing forward foreign exchange contracts:
  • (m) acting as an insurer:
  • (n) providing any other financial service that is prescribed for the purposes of New Zealand complying with the FATF Recommendations, other recommendations by FATF, or other similar international obligations that are consistent with the purpose of this Act.

In order to trade the entity with retail clients and into retail markets the company requires to register with the dispute resolution scheme in addition to its licenses granted.

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