Qualification changes

In the situation where changes relating to a financial service provider (FSP) occur, section 17 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 sets out the duty for certain persons to notify the Registrar of the change.

An FSP is required to notify the Registrar if the provider knows that the provider is no longer qualified for registration in accordance with section 13 of the Act.

The Registrar must be notified of any changes within ten working days of the person being made aware of the change.  If a provider fails to advise the Registrar of a qualification change the provider commits an offence and is liable on summary conviction to a fine not exceeding NZ$10,000.
 

How to notify the Registrar of any changes

To notify us of a change to your own FSP:

1. You must be a registered user of the website.  Read more...
2. You must have authority over that FSP.  Read more...

Step 1 - Log on

Step 2 - Search the register for the FSP you wish to notify the Registrar about.  Read more about searching...

Step 3 - Select My Tools then choose Qualification Change Claim.

Step 4 – Select one of the three reasons for notification from the list provided (for example – Disqualified, under Section 14 of the Act)

Step 5 – Provide further information about the qualification change in the Comments field.

Step 6 – Attach any supporting documentation by selecting the Browse… button then selecting the Upload to Server button to attach your documentation.

Step 7 – Select the Submit button to send us your qualification change claim.

Tip | We have information about how to make other changes relating to an FSP’s registration details (for example, change of address or financial service changes).  Read more...

What happens next?

We will process your qualification change within two working days and notify you via email of the outcome.

Note | The acceptance of your qualification change may result in action by the Registrar to deregister the FSP.