Fiduciary Service Providers
Fiduciary Services Providers (Trust and Corporate Service Providers)
Since 1 August 2008, the primary legislation for the regulation of fiduciary service providers is the Financial Services Act 2008. Corporate Service Providers require a Class 4 licence and Trust Service Providers, a Class 5.
Previously, the Fiduciary Services Acts 2000 and 2005 were the statutory basis for regulating fiduciaries.
It is illegal to carry out fiduciary services without a licence and providers are required to conduct their business in accordance with regulatory codes to the highest professional standards.