Deregistering a financial service provider (FSP) voluntarily
Who can request it – and how to do it
You can ask us to deregister your financial service provider (FSP) if you, or the entity you administer, are no longer providing, or able to offer, financial services.
What deregistration means
Once you’re deregistered, you can no longer offer to provide financial services under that registration.
Requests for deregistration are made under Section 18(2), Financial Service Providers (Registration and Dispute Resolution) Act 2008 .
Who can request deregistration
Authorised people or organisations can apply for deregistration on behalf of the FSP. This applies to individual FSPs and to entities that have registered as an FSP. If you’re an individual FSP, you can also submit a deregistration request yourself.
Before you can submit an application, you must have confirmed your authority to manage details of the FSPs registration.
Preparing to apply
Before you can send us a deregistration request you must have the following:
- a RealMe® login
- an online services account with the FSPR
- authority to act for your FSP.
If you provide licensed or certified financial services
Financial Markets Authority services
If you’re providing any financial service that is licensed, or awaiting licensing, by the Financial Markets Authority (FMA), you will need to contact them to request that those licensed services be cancelled, or any services awaiting licensing be withdrawn, before you can be deregistered.
Commerce Commission services
If you’re providing any financial service that is certified, or awaiting certification, by the Commerce Commission, you will need to contact them to request that those certified services be cancelled, and any services awaiting certification be withdrawn, before you can be deregistered.
Email address: certification@comcom.govt.nz
Reserve Bank services
If you’re providing any financial service that is licensed, or awaiting licensing, by the Reserve Bank, please allow at least 5 working days’ notice when requesting deregistration of your FSP. This time is needed for us to advise the Reserve Bank of your proposed deregistration.
How to request deregistration
To apply to deregister an FSP, follow these steps:
- Log in to your online services account.
- From the dashboard, use either the search options or the ‘FSP registrations’ tab to find and select the FSP.
- On the ‘View FSP details’ screen, choose the ‘Request Voluntary Deregistration’ button.
- Provide the reason for applying for deregistration
- Advise whether you’d like the FSP to be deregistered as soon as possible or on a specific date in the future.
- The deregistration date cannot be the same day as you submit your application nor more than 30 days in the future. If the FSP provides licensed or certified services, or is awaiting licensing or certification, you must specify a date that’s at least 5 working days in the future.
- You have the option of providing documents to support your request.
- Read the declaration and confirm that you have done so.
- Click on ‘Submit’.
What happens next
We will review your request and email you confirmation that this review is underway. You can also check the status of your request by checking the ‘Applications Saved or Under Review’ tab on your dashboard.
We aim to complete our review within 3 working days and we'll email you with the outcome.
If your request is accepted, we will:
- send you a notice of deregistration to tell you when we have deregistered your FSP, and
- place a public notice of deregistration against your FSP on the Financial Service Providers Register (FSPR) for a period of 20 working days.
If your request is rejected, we will email you and explain our reasons for not accepting your request.