Regulatory & legal

Cucchiara is registered as a Financial Service Provider (FSP) in New Zealand, and as such is governed by the provisions of the Financial Service Providers (Registration & Dispute Resolution) Act 2008, which is administered by the Ministry of Business, Innovation & Employment (MBIE) through the office of the Registrar of Financial Service Providers.

The provision of financial services by the Company is governed by a range of legislation, including, in particular:

  • Sections 77K, 77L & 77V of Part 3A Financial Advisers Act 2008, which stipulate that brokerage services must be provided with due care, skill & diligence, and that a broker must not engage in misleading or deceptive conduct.
  • The Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014, which govern the provision of custody services in regard to, inter alia, debt & equity securities, and;
  • Sections 19 through 23 of Part 2 Financial Markets Conduct Act 2013, which prohibit misleading or deceptive conduct, and the making of false, misleading or unsubstantiated representations in the course of providing financial services.

These legislative measures are administered by MBIE primarily through the auspices of the Financial Markets Authority (FMA), the New Zealand government agency responsible for enforcing securities, financial reporting and company law as they apply to financial services and securities markets (more information).

Cucchiara is also a member of a Dispute Resolution Scheme approved in accordance with section 50 of the the Financial Service Providers (Registration & Dispute Resolution) Act 2008 (more information). This provides clients with an independent channel through which they can seek to resolve any complaints they may have about our service.

Update 22.06.20: As a result of the enactment of the Financial Services Legislation Amendment Act Commencement Order 2020, the Financial Advisers Act 2008 and its subordinate legislation will be repealed, with effect from the 15th of March 2021 (the Operative Date). From that date, Cucchiara will be subject to the obligations outlined in subpart 5B of Part 6 to the Financial Markets Conduct Act 2013, in addition to those sections of Part 2 referred to above. We will update this page with further information closer to the Operative Date.

Important Disclaimer: Please note that Cucchiara is not licensed by MBIE, the FMA, or any other New Zealand government agency, and none of the above should be understood as implying that the Company is regulated by any such agency.