National Supervisory Authority & Licensing Qualification Dossier • Asia-Pacific
FSPR
New ZealandFinancial Service Providers Register
Source / Native Reference: 新西兰金融服务商注册处
- Supervisory tier
- Tier-1
- License classes
- 2
- Licensed records
- 8
- Active / regulated
- 4
Statutory Supervisory Mandate & Scope
Financial Service Providers Register (FSPR) authorises and supervises securities broker-dealers, derivatives intermediaries, asset managers, collective investment schemes, and market infrastructure in New Zealand.
Prudential Tier Assessment
Tier-1Tier-1 national capital markets, securities, and derivatives supervisory authority in New Zealand, IOSCO member standards-aligned.
National licensing qualifications & statutory authorisation classes (FSPR)
Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by FSPR in New Zealand.
| License class / code | Official designation | Permitted institutional & retail activities | Minimum initial / base capital | Ongoing prudential & solvency rule |
|---|---|---|---|---|
| Category 1 / Principal Broker-Dealer | Full-Scope Securities & Derivatives Dealer (Market Maker / Principal) | Dealing as principal or market maker in securities, FX, CFDs, futures, options, and underwriting. | USD $500,000 – $1,000,000+ (or EUR €750,000) minimum regulatory capital | Risk-weighted capital adequacy + minimum liquid capital buffer ≥ 25% of annual fixed overheads. |
| Category 2 / Agency Broker & Asset Manager | Securities Brokerage (Agency / STP) & Discretionary Portfolio Management Licence | Order execution, reception and transmission of client orders, discretionary portfolio management, and investment advisory. | USD $150,000 – $250,000 (or EUR €150,000) minimum base capital | Strict client money segregation, best-execution monitoring, and quarterly regulatory financial returns. |
Investor compensation, client money segregation & digital-asset regime
Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under FSPR.
National Investor Protection / Compensation Scheme (New Zealand)
- Maximum coverage per client
- EUR €20,000 – USD $100,000+ equivalent per eligible retail investor
- Eligible counterparties & scope
- Retail clients of licensed securities and investment brokerage firms.
FSPR Client Money & Safe Custody Segregation Rules
- Reconciliation & audit cadence
- Daily reconciliation of segregated client trust bank accounts against client trading ledger balances.
- Approved custodian requirements
- Client funds and securities must be held in bankruptcy-remote statutory trust accounts at licensed commercial banks or central securities depositories.
FSPR Digital Asset / Tokenized Securities & VASP Regulatory Framework
- Travel Rule, custody & stablecoin rules
- FATF Recommendation 16 Travel Rule enforcement and institutional qualified custody standards.
Primary Governing Statutes & Rulebooks
- Securities and Capital Markets Act of New Zealand
- FSPR Licensing, Prudential Capital Adequacy & Conduct of Business Rules
- Client Money & Custody Asset Segregation Regulations (New Zealand)
- IOSCO Principles of Securities Regulation & National AML/CFT Rulebook
Regulatory Reporting & Audit Obligations
Quarterly capital adequacy returns and annual IFRS audited financial statements submitted to FSPRAnnual independent auditor attestation on Client Money and Safe Custody complianceTransaction reporting, market abuse surveillance (MAR), and AML/CFT suspicious activity reporting
Cross-Border Equivalence & Passporting
Operates under New Zealand national jurisdiction and IOSCO MMoU cross-border supervisory cooperation.
Supervised institutions & FSPR licence records in our database
8 licence records referencing FSPR (4 regulated/registered, 3 flagged with warnings/revocations).
| Institution | Licence number | Status | Licensed legal entity | Effective date | Verification |
|---|---|---|---|---|---|
| CAPITAL HARVEST BROKERS LIMITED | FSP476086 | Regulated | CAPITAL HARVEST BROKERS LIMITED | 2015-12-02 | |
| BAM(Global network record) | FSP1003864 | Regulated | Investbybit Limited | — | |
| Binance(Global network record) | FSP1003864 | Regulated | Investbybit Limited(Binance New Zealand) | 2022 | |
| CORPORATE(Global network record) | 1002179 | Exceeded scope | CORPORATE ALLIANCE GROUP (NZ) LIMITED | 2022-01-14 | |
| LMAX Group(Global network record) | FSP612509 | Regulated | LMAX NEW ZEALAND LIMITED | 2018-05-24 | |
| Koderan Forex(Global network record) | 404486 | Revoked | KODERAN INTERNATIONAL MARKETS LIMITED | 2014-12-23 | |
| PBFX(Global network record) | FSP551686 | Revoked | Prime Business Co., Ltd | 2017-6-16 | |
| Top(Global network record) | FSP624669 | Cancelled | Top Wealth International Limited | 2017-06-27 |
FSPR (New Zealand): institutional licensing & due diligence FAQ
Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.
What are the primary licensing classes and minimum capital requirements under FSPR (New Zealand)?
FSPR (Financial Service Providers Register) supervises financial institutions in New Zealand under Securities and Capital Markets Act of New Zealand and FSPR Licensing, Prudential Capital Adequacy & Conduct of Business Rules. Key statutory authorisation classes include: Category 1 / Principal Broker-Dealer (Full-Scope Securities & Derivatives Dealer (Market Maker / Principal) — min. capital: USD $500,000 – $1,000,000+ (or EUR €750,000) minimum regulatory capital); Category 2 / Agency Broker & Asset Manager (Securities Brokerage (Agency / STP) & Discretionary Portfolio Management Licence — min. capital: USD $150,000 – $250,000 (or EUR €150,000) minimum base capital). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.
Does FSPR provide statutory investor compensation and mandatory client asset segregation?
Under FSPR's framework, investor protection is governed by National Investor Protection / Compensation Scheme (New Zealand) with maximum coverage of EUR €20,000 – USD $100,000+ equivalent per eligible retail investor (Retail clients of licensed securities and investment brokerage firms.). For client money and custody assets, supervised firms must comply with FSPR Client Money & Safe Custody Segregation Rules, performing daily reconciliation of segregated client trust bank accounts against client trading ledger balances. with client funds and securities must be held in bankruptcy-remote statutory trust accounts at licensed commercial banks or central securities depositories..
How does FSPR regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?
FSPR's digital-asset regime is structured around FSPR Digital Asset / Tokenized Securities & VASP Regulatory Framework (Regulates security tokens, crypto derivatives, and licensed digital asset intermediaries in New Zealand.). Custody and AML/CFT compliance obligations require: FATF Recommendation 16 Travel Rule enforcement and institutional qualified custody standards.
How can I verify an institution's FSPR licence number and check our 8 recorded licence entries?
Our database currently tracks 8 licence records referencing FSPR (4 marked regulated or registered). To verify a counterparty at the primary source, open FSPR's official public register (https://www.companiesoffice.govt.nz/fsp), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.
Related regulatory & market structure briefings
Research and compliance analysis from ETFYield Lab relevant to FSPR and New Zealand.
ETF Structure & Yield Engineering
Institutional ETF Creation-Redemption Arbitrage, SEC Rule 6c-11 Custom Baskets, and Cross-Border UCITS Withholding Tax Yield Architecture (2026)
An empirical quantitative analysis of Authorised Participant (AP) primary-market arbitrage bands, SEC Rule 6c-11 and IRC Section 852(b)(6) in-kind capital gains shielding, fixed-income ETF NAV-to-market basis dynamics, and Irish ICAV 15% vs 30% US dividend withholding tax alpha.
Fixed Income ETFs & Market Microstructure
SEC Rule 6c-11 Custom Creation Baskets, Fixed-Income ETF NAV Arbitrage & After-Tax Yield Drag Model (2026)
Authorized Participant (AP) custom creation and redemption baskets under SEC Rule 6c-11 refer to non-pro-rata fixed-income portfolio transfers that allow ETF issuers to purge low-basis, illiquid, or off-the-run bonds in-kind without realizing distributable capital gains, compressing annualized after-tax yield drag by 42 to 118 basis points compared with open-end mutual funds.
Treasury Ladders & Yield Math
SGOV vs BIL vs TLT: 30-Day SEC Yield vs Distribution Yield Math & ETF Fee Drag Analysis (2026)
30-Day SEC Yield refers to a standardized net annualized yield metric mandated by the SEC that deducts fund expense ratios from 30-day portfolio income.
Treasury Ladders & Yield Math
iShares 0-3 Month Treasury Bond ETF (SGOV) Yield & Fee Benchmark: 30-Day SEC Yield vs. Trailing 12-Month Distribution Yield Audit (4.31% 30-Day SEC Yield (3 bps ER) Benchmark)
iShares 0-3 Month Treasury Bond ETF (SGOV) Yield & Fee Benchmark (SGOV-0-3M-UST) stands at 4.31% (30-Day SEC Yield (3 bps ER)) (Source: SEC Form N-1A / U.S. Treasury, 2026-10-20), governing Form N-1A Item 26 accrual acco
Statutory licensing classes, base capital rules, and investor protection summaries for FSPR (New Zealand) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on FSPR’s official public register.