Registration requirements

This is a summary only, please visit the link below for more details:

http://www.business.govt.nz/fsp/about-the-fspr/how-do-i-register-an-fsp

A guide to the registration process

Sovereign have compiled a helpful guide on how to register on the Financial Services Provider Register, which takes you through step-by-step.

Registered Financial Advisers

All advisers must be registered with the Companies Office and be part of a disputes resolution scheme. For more information please visit http://www.business.govt.nz/fsp/

Authorised Financial Advisers

All advisers must be registered with the Companies Office and be part of a disputes resolution scheme. For more information please visit http://www.business.govt.nz/fsp/

Please find all of the detailed requirements in the AFA Authorisation Guide from the Securities Commission.

Here is the Adviser Business Statement that AFAs are required to complete.

Nominated Representatives of a QFE

All individuals wishing to be in Sovereign's QFE must have their employer or principal register with the Companies Office. For more information please visit http://www.business.govt.nz/fsp/ .

Sovereign will automatically enrol individual Nominated Representatives as part of the ISO disputes scheme.

Updated category 1 & 2 product listings

4/08/2011

The new legislation has categorised financial products into two categories (Category 1 and Category 2), and sets out which type of adviser is qualified to advise and sell. Many advisers are wondering if the products they sell or have on their books are Category 1 or Category 2 products.

Asset Magazine - A Dummies Guide to QFEs

18/01/2011

Asset Magazine look at the QFE space and what it means for advisers.

This article outlines what a QFE is and what options there are for advisers in the new regulated environment.

Asset Magazine - QFE Article Dec 2010

When do financial advisers have to register?

19/11/2010

After consultations with the Ministry of Economic Development this morning, we received clarification on who needs to be registered by 1 December.

Sovereign takes the lead in a new regulatory world

16/11/2010

Sovereign is embracing legislation that will set new professional standards for financial advisers by applying to become a Qualifying Financial Entity (‘QFE’).