- I am a service provider to the financial services sector – am I part of the essential services exemption?
- Reply To: I am a service provider to the financial services sector – am I part of the essential services exemption?
Reply submitted 30/03/20 @ 12:05pm::
Potentially any service provider to the financial services industry is an “essential business” however the Government is taking a strict interpretation of this.
If it is possible to continue to provide your services from home then it doesn’t really matter whether you are an essential business or not. You just continue to provide your services as normal.
If it is necessary to go to your or your clients site to perform your services then you need to be an essential business in order to do that. There is a good chance you are an essential business if you provide essential services such as payroll support, or services which support transactions happening. But you should confirm that through contacting RBNZ. My understadning is that FMA and the Reserve Bank have the authority for this, and have info on the COVID essential services list: https://www.rbnz.govt.nz/news/2020/03/covid19-level-4-essential-services-financial-sector.
No matter what, you should decide what operations and infrastructure are essential to maintain customer services and to support the financial system. While some functions will be able to be performed remotely, a limited number of staff may be required to be onsite. You should keep these numbers to an absolute minimum and maintain physical distancing protocols.