This note is not part of the order, but is intended to indicate its general effect.
This order brings Part 2 and section 48 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (the FSP Act) into force in specified stages.
The transitional scheme for financial service providers and financial advisers under this order, when taken together with the Financial Advisers Act Commencement Order 2010 and the Financial Service Providers and Financial Advisers Transitional Regulations 2010 (the Transitional Regulations), is as follows:
(c) on and from 1 April 2011, it becomes mandatory for financial advisers to be registered under the FSP Act. Accordingly, any person seeking to rely on a grant of QFE status to avoid the need to register its employees and nominated representatives must have that status granted by this date. At this time, the FSP Act is fully in force:
Date of notification in Gazette: 12 August 2010.
This order is administered by the Ministry of Economic Development.