Commerce Minister Foss plans stricter monitoring rules for financial service providers

Tue, 12 Mar 2013

By Paul McBeth March 12 (BusinessDesk) - The government has agreed to stricter monitoring rules for financial service providers, giving regulators the ability to probe deeper into the affairs of firms and block anyone who doesn't pass muster. Cabinet plans to strengthen the financial service providers registration (FSPR) scheme by granting regulators new investigative powers and the ability to remove providers from the register, Commerce Minister Craig Foss said in a statement. The FSPR opened three years ago as part of government efforts to...

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