If you provide financial services to retail clients, you must enter details of your DRS membership on the Financial Service Providers Register (FSPR) and keep the information up to date.
When you need to update DRS details
You must provide details of the DRS membership to us within 10 working days of registering as a financial service provider (FSP).
After you're registered as an FSP, you may need to update your DRS details if you change:
- to another provider, or
- your job — your new employer could belong to a different DRS or, if they're using the same DRS as your previous employer, they will have a different membership number.
How to update DRS details
To update the details of your DRS, you must have:
- a RealMe® login
- an online services account with the FSPR
- authority to act for your FSP.
Log in, search for your FSP, view its details and follow these steps.
- Select Change request to FSP from the My tools menu on your dashboard.
- Select the Financial services tab.
- Update your DRS details in the Dispute Resolution Scheme section at the bottom of the page.
- Go to the Review tab to check the details you've entered are correct.
- Confirm the declaration and select Submit to save your changes.
We send you an email confirming that your changes have been registered.Update FSP details
If you don't keep DRS details up to date
We can deregister your FSP if you don't keep your DRS details up to date.