Chartered Savings Loan and Trust Limited Notice

Date
31 May 2018
Type
Notice

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

The Reserve Bank has sent a warning to Chartered Savings Loan and Trust Limited (CSLT) in response to CSLT’s 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. The Reserve Bank acknowledged the corrective actions taken but has warned CSLT that future non-compliance with the Act is likely to result in prosecution.

A full list of licensed NBDTs can be found on the Public register of licensed NBDT's page.