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Financial Dispute Resolution Scheme (FDRS) is required by law to publish the names of all members of the scheme. FDRS does not guarantee the bona fides, or endorse the services of any member.
Complaints about financial service providers who are no longer members.
- Contact FDRS if they have been deregistered from the Financial Service Provider Register (FSPR)
- Contact the current dispute resolution provider if they have transferred to another scheme.
Financial Service Providers Register (FSPR)
- Under New Zealand law (the Financial Service Providers (Registration and Dispute Resolution) Act 2008), all individuals or entities wanting to provide financial services from a place of business in New Zealand must register on the Financial Service Providers Register (FSPR) and meet the application requirements.
- Being registered does not necessarily mean the registered entity is licensed or regulated or otherwise actively supervised or monitored by New Zealand regulators. It does not necessarily mean that they comply with New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requirements.
- The FSPR does provide the ability for consumers to check that their current or intended financial service provider is registered, but some of the information on the Register may not accurately reflect the individual services an entity provides as that is largely updated by providers themselves.
- The New Zealand Government are aware of instances where some entities are giving the impression to consumers that their registration on the New Zealand FSPR means they are actively regulated in New Zealand when they are not.
The application process
- Financial service providers who are applying for membership of the scheme must first make application for registration at the FSPR.
- You will be issued a FSPR number and provisional registration subject to joining FDRS. Make your application to FDRS.
- We will process your application within 24 hours and issue you with an invoice for your membership fees.
- We will confirm membership once your membership fees have been paid.
- You need to advise FSPR of your scheme membership number.
- FSPR registration is not complete until FSPR confirmation.
A financial service provider may be deregistered from the FSPR if the Registrar considers it is no longer eligible or if the financial service provider elects deregistration (for example is no longer providing a financial service). Consumers should check the status of a financial service provider at the FSPR
Important note - Registering on the FSPR is simply an administrative process and it does not mean a company is regulated or licensed either in NZ or any geography.
Financial Dispute Resolution Scheme is not an investigatory body and does not have powers of enforcement. However, it can terminate membership for a member’s failure to abide by an adjudicator’s decision. It cannot offer any protection regarding insolvency of a member or for matters outside jurisdiction for example, if it was determined that a scheme member did not provide a financial service from a place of business in New Zealand.
1 scheme members available
Alpari NZ LimitedOrganisation Member (deregistered)