Promoters of securities offered to the public
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I am a director of a company that promotes offers of securities to the public and the Securities Act deems me to also be a promoter by virtue of me holding that position. Do I have to register on the FSPR as a financial service provider (a promoter) in my own name?
Regulation 4 of the new Financial Service Providers (Exemptions) Regulations 2010 exempts you from having to register as a financial service provider in your own name in respect of your “participation” as a promoter in an offer of securities by the company of which you are a director.
You must however consider whether you need to separately register on the FSPR in your own name for any other financial services in section 5 of the FSPA that you provide (if any).
![[image] flowchart icon portlet.](http://www.business.govt.nz/fsp/image-library/Flowchart.jpg)
![[image] registration guides.](http://www.business.govt.nz/fsp/image-library/resources/rules-is-rf.gif)
