Foreign financial services providers spurred Foss to tighten registration rules

By Paul McBeth May 6 (BusinessDesk) - Foreign companies looking to boost their international credibility with a New Zealand registration were behind Commerce Minister Craig Foss’ plans to tighten up the database. In March, Foss announced plans for stricter monitoring rules and beefed up investigative powers for regulators of the Financial Service Providers Register, three years after its launch as part of government efforts to restore investors’ faith in financial advisers and the wider sector. The legislation was introduced to Parliament on...