Topic: Old - page 3. (Read 4376 times)

I was referring specifically to your claim to be a "Deposit Taker" - that's a term with a specific meaning.

Investment companies are NOT necessarily Deposit Takers (most aren't).

The Act I linked to specifically deals with the management of deposit takers who AREN'T banks.  Banks are dealt with seperately.

I'm not disputing that SOME of your listed areas of business can be conducted without need for a license.  I AM disputing:

1.  That you're licensed to do anything (you aren't - you're just registered as intending to conduct certain business).
2.  That you can be a Deposit Taker without a license (you can hold and manage funds no problem - but that's not the same thing).

Here's a quote from the FSPR website i nregards to who has to reigster (link : http://www.business.govt.nz/fsp/about-the-fspr/frequently-asked-questions-faqs/registration-who/who-must-register-as-a-financial-service-provider)

"Some people will have to register regardless of the location of their place of business, because they provide a licensed financial service and their licensing authority requires them to register.  Individuals or companies unsure as to whether or not they will be required to register should seek their own independent legal advice."

That makes it entirely clear that licensing (where required) is something entirely different to the registration that they offer/require.

So either stop claiming to be licensed or get licensed.

Form what the lawyer has told me this is not required unless you are going to use the name bank.
http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP1681/16.do?noReturn=true
Savings and trust being perfect examples.
Also she pointed out to me
table 1
http://www.rbnz.govt.nz/research/bulletin/2002_2006/2003dec66_4mortlock.pdf
FSP taking deposits.

Here's some reading for you:

http://www.legislation.govt.nz/act/public/2008/0059/latest/DLM1106230.html

That's the (Amendment) Act which defined the Reserve Bank as being the licensing authority for non-bank deposit takers (which is what you'd be).  Good luck getting approval or an exemption from them.

Now it MAY be that you can conduct business without being licensed providing you don't sell to any New Zealand residents (I'm not clear on that - NZ doesn't have any explicit support for offshore business) however even IF that is the case it is a lie for you to claim to be licensed when you aren't (you're just registered - with means nothing other than that you've stated an intent to conduct business and aren't explicitly barred from doing so provided you meet all necessary requirements).

You seem to have a fundamental misunderstanding.

The FSPR (which you linked to) is a register of all FSPs.

If you wish to conduct business as an FSP then you MUST be on that register.  But being on that register is NOT, of itself, sufficient to conduct business as an FSP.

X being required to do Y is NOT the same as X being sufficient to do Y - which is where you seem to have got confused.

Here's an excerpt from the Act which caused the GSPR to be formed:

"13 Qualifications for registration as financial service provider

    A person is qualified to be registered as a financial service provider if—

        (a) the person is not disqualified under section 14; and

        (b) the person is a member of an approved dispute resolution scheme, or the reserve scheme, if required by section 48; and

        (c) if a licensing enactment requires the person to be a licensed provider, the person is, or will be (on and from commencing to be in the relevant business), a licensed provider."

Note point (c).  You can REGISTER as an FSP without having a license (where one is required) but MUST obtain such a license before actually commencing business.  Some of the areas of business you've listed - such as accepting deposits - definitely require licensing: and I very much doubt you'd be able to obtain such a license if you're having to scrape around for 250 BTC (as there's pretty onerous requirements in terms of capital).

You're REGISTERED as an FSP but not LICENSED.  Understand the difference.  NZ doesn't (afaik) support offshore arrangements so there's no facility for getting an easy license if you only trade with non-residents.  Registration is just you saying "I'm going to do business X/Y/Z" - it isn't a license to actually do so.

See any names that ring a bell below? I have the same privileges as they do.

JP Morgan Chase has 4 FSPs

http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=JPMorgan


Lloyds TSB bank has an 2 FSPs
http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=TSB


The Bank of Tokyo has an FSP

http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=The+Bank+of+Tokyo


RBS (Royal Bank of Scotland) has 3 FSPs

http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=RBS

Citibank has 4 FSPs

http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=citi


HSBC has a FSP

http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP37008/8.do?noReturn=true

Deutsche bank has 2 FSP's

http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=Deutsche

ANZ Bank has 13 FSPs

http://www.business.govt.nz/fsp/app/ui/fsp/record/liveSearchFsp.do?q=anz


http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP270025/1.do?noReturn=true
Third block down answers your questions on what I can do.

There seems to be something rather massive missing.

You claim to be licensed to provide various financial services - but only show evidence of REGISTERING as a financial services provider in New Zealand.  Registration is entirely seperate from licensing - licensed FSPs have to register in addition to being licensed, not as an alternative.

So where are you actually licensed to provide these services?  Registering is required for dispute resolution etc - but in no way gives you authority to actually provide financial services of itself : that has to be dealt with by the relevant regulatory/licensing bodies (e.g. the central/reserve bank for deposit taking - where you'll have to demonstrate very significant funds, suitably qualified staff etc).

There was no masquerade just a new business. Bitcoin-keys has its own forum account as well.

Why masquerade as Bitcoin-Financial instead of BitcoinINV?

https://bitcointalksearch.org/topic/m.1080868

My name is Daniel, its on the company info.
Bitcoin key's is my business that will now be combined into Bitcoin Financial that means we hold over 100 registered and verified members already.

Let's. Your name and your company name. Your registration number. The name of some of those investors, or some sort of proof of their existence. The name of that previous business, or some trace of its existence.

Basic stuff you should have been starting with rather than waiting for me to ask for.

What am I lying about? I would like to clarify any notions you may have. Lets sort this out like adults not kids.

Yet another one of those?

Srsly, 4 post guy, forget about this thing, see here. THAT is something of value. Your blathering is not.


How come nobody knows of you? Is it because you're lying, perhaps?


There is no interest.

Understood,
Bitcoin-financial will be the a very complete platform that will allow for tons of features.

Cash Deposit 3rd Party "moneygram ect."   2.5%
Credit Card Deposit.   3.75%
Crypto Coin Deposit   0%
Minum Balance   $5 or Equal
Buy & Sell Coins   +2.50% Buy - 2.5%Sell
ACH Withdraws/wire   $0.25 Wire 25$
ACH Deposit   Free!
Crypto coin withdraw   0%
Transfer to/from Exchange "Mtgox" or "Btc-e"   2.99%

Our lending platform is still based off the crowd sourced lending to a degree. We take in Loan Brokers who lend out there own funds. These brokers have complete control over the lending term's they issue to a degree. The system sets a top interest rate for them to charge, and they are free to set it anywhere in between.
We will offer brokers unlimited use of our Right Signature digital document software "holds up in court as a legal document" to make contracts. These contracted are stored and CAN NOT BE CHANGED each document comes with a qr code for quick reference and look up of the contract.
http://www.youtube.com/watch?v=yPBHcficFhc

We have a built in payment gatway that can be set up with any website. It can be set up in a way to where the purchaser does not need a account. We will support any currency we have accounts open for at the time.
***{Sales op} We will offer merchant account brokers a discount on all merchant accounts set up


We are working with a company to provide 12 hours of chat support a day and 12 hours of email support. This will make for great customer services and fast transfers.

There is much much more...

You realize you've told us absolutely nothing about yourself or your business, right? You come out of the newbie section and immediately ask us to invest 250 bitcoins with you...might I say we're bound to be a bit skeptical?

1.  Are you actually licensed to provide these services - as opposed to not needing to be licensed to provide them?  From previous threads it seemed you were registering in a form whereby you could (maybe) provide such services without needing a licence - which is absolutely NOT the same thing as being licensed.
A)Yes I have a Financial Service Provider license, It is required by law.
2.  Proof of registration of company please - as well as some sort of business plan.  'I reistered a company please give me money" isn't the best selling line ever.
We are not a OFC as you speak of we are a registered financial services providers
http://www.business.govt.nz/fsp
Search -
FSP270025
Business plan is being reworked after a shift in business.
3.  750 shares are NOT "held by the owner".  He may be the founder, he may be the previous owner, he may be the majority shareholder but he is NOT (any longer) the owner
Your right my mistake bad wording.

4.  "The requires us to keep a register of all share holders".  The what?

The requires us to keep track of the company share holders and keep it up to date by 30 days.
http://www.business.govt.nz/companies/app/ui/pages/companies/4274578/shareholdings. Shows the 250 shares sectioned off to be sold.

5.  Has this majority shareholder also paid 1 BTC per share (either in cash or in kind)? Mixture of both.

6.  Are the proceeds from sale of shares going to the company or to yourself?
Company for equity and capital. We are going to provide instant exchange transfers of funds. This will require us to keep a consistent reserve of funds on both mtgox and btc-e

7.  What assets does the company have?
We have some assets but we are tryiing to raise funds.   Thats why were posting.

8.  Will this one run for a few weeks before ceasing operations as happened with your dismal failure of a mining company?
Don't forget about the bitcoin-keys its been around and operating for a while . Things happen and business climates change all the time look at  hostess. I could not predict GLSBE closing, and nor could anyone else an this changed the climate of the business. "dismal failure" is not even close it paid dividends all the way up till the day I shut the rigs off. If that's a failure we need to reevaluate the word.

9.  Who is the "we" you refer to at various times?
We as in me and the Company.

Thanks for your interest

1.  Are you actually licensed to provide these services - as opposed to not needing to be licensed to provide them?  From previous threads it seemed you were registering in a form whereby you could (maybe) provide such services without needing a licence - which is absolutely NOT the same thing as being licensed.

2.  Proof of registration of company please - as well as some sort of business plan.  'I reistered a company please give me money" isn't the best selling line ever.

3.  750 shares are NOT "held by the owner".  He may be the founder, he may be the previous owner, he may be the majority shareholder but he is NOT (any longer) the owner

4.  "The requires us to keep a register of all share holders".  The what?

5.  Has this majority shareholder also paid 1 BTC per share (either in cash or in kind)?

6.  Are the proceeds from sale of shares going to the company or to yourself?

7.  What assets does the company have?

8.  Will this one run for a few weeks before ceasing operations as happened with your dismal failure of a mining company?

9.  Who is the "we" you refer to at various times?

It cost lots of money to form a company, then be compliant with financial regulation. There is already 100 member that will be rolled in from a previous business, that buy on average 10k-15k worth of coins a month. With the new options that will be added I valued the company low at 25,000 honestly. The fact that its a "new business" does hinder the price you say. But the sales are there I can assure you that.

Yes please.

Where are you "licensed" to provide those services? Any further details available... business plan, company info, or the like?