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Chartered Savings Loan and Trust Limited

Warning: 31 May 2018

This company is not licensed or prudentially supervised by the Reserve Bank of New Zealand or any other New Zealand authority.

We have sent a warning to Chartered Savings Loan and Trust Limited (CSLT) in response to its conduct in misrepresenting on its website and Facebook page that it is a licensed non-bank deposit taker (NBDT).

Section 12(2) of the Non-bank Deposit Takers Act 2013 (Act) makes it an offence for a person that is not licensed as an NBDT to hold out that the person is a licensed NBDT.

CSLT has remedied the misrepresentations by taking down its website and Facebook page. We acknowledged the corrective actions taken but we have warned CSLT that future non-compliance with the Act is likely to result in prosecution.

View a full list of licensed NBDTs