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Minter Ellison Rudd Watts NewsRegister of Financial Service Providers opens today 16 August 2010 The new Financial Service Providers (FSP) register, operated by the Companies Office, opens today. The Register is an electronic list, with basic contact and other details, of all financial service providers resident, or with a place of business, in New Zealand. Under the new regime, all financial service providers must be registered by the time the Financial Service Providers (Registration and Dispute Resolution Act) 2008 comes into force on 1 December 2010.
In a related media release, responsible Minister Hon Simon Power says that the opening “marks the start of the transition to full implementation of the Financial Advisers Act and the Financial Service Providers Act.
Common questions being asked include: Am I exempt?; Do I need to register if I am based overseas?; Do I need to be a member of a dispute resolution scheme?; What happens next – what is the timeline from here?
For answers to these questions and more insights, we invite you to click here to read our Financial Services News Alert on the topic or to speak to one of our experts about the implications of the Act and the Financial Advisers Act 2008, how these may affect your business and what steps you may need to take now to ensure you are ready for the new regime. 
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