Registering an FSP as an individual

Transcript

Duration: 5:22

Visuals

A title screen appears with the words ‘Registering as an Individual on the Financial Service Providers Register (FSPR).’

Audio

Welcome to this short video on how to register as an individual on the Financial Service Providers Register.

As this is a new system, we recommend you watch this video to the end, as we will walk you through the steps you need to take to register and explain what happens when you've done so.

If you are registering for the first time, you may want to have this video running on another device or screen as we go through the process.

Before you register as a financial services provider, you’ll need to have decided how you wish to run your business, and what services you intend to provide.

If you are yet to make these important decisions, we recommend that you familiarise yourself with the options available to you and, if necessary, seek expert advice.

Visuals

A screen appears that lists what’s required to register online (Note the audio reads the wording on the screen).

Audio

To register online you’ll first need to have a RealMe® username and password, and an online services account with the FSPR. If you’d like to know more about setting these up, refer to our online guides.

Visuals

The Companies Office website home page appears. You see the cursor moving to the Financial Service Provider Register tile in the website header.

Audio

You can login to the FSPR by visiting companiesoffice.govt.nz. From the home page select ‘Financial Service Providers Register’ at the top.

Visuals

The home page of the Financial Service Providers Register website appears. You see the cursor moving to, and selecting, the Login button in the website header.

Audio

Then select login.

Visuals

The Companies Office RealMe login page appears. You see the Username and Password fields being completed and the cursor moving to, and selecting, the Login button.

Audio

Enter your RealMe username and password. This will take you to your FSPR dashboard.

Visuals

The FSPR dashboard page appears. From the section titled ‘I would like to…’ you see the cursor moving to, and selecting, the ‘Register FSP (Individual) option.

Audio

From the dashboard menu, select ‘Register an FSP Individual’.

Visuals

The ‘Register FSP (Individual)’ screen appears displaying the General details part of the application. You see the cursor moving to, and selecting, one of the question mark icons beside one of the field labels and a help window pop-up showing some help text.

Audio

Before we continue, it is important to note that additional information about each step can be found by selecting the help icon.

Visuals

The cursor scrolls down the ‘Register FSP (Individual) screen showing the fields that need to be completed under the General details part of the application.

You’ll see the cursor moving to, and selecting, the ‘Yes’ option beside the question ‘Is this FSP a reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 that provides financial services?’ Once ‘Yes’ is selected, another set of fields is displayed where you select who the AML/CFT supervisors are. The cursor then moves to and selects March from the drop-down list for the Annual Confirmation Filing Month field.

Finally the cursor moves to, and selects, the button at the bottom of the screen labelled ‘Next Step: Addresses’.

Audio

Now on the registration screen you’ll be asked to submit your personal details, any previous FSP registration information, and any trading names you may have.

You’ll also need to confirm that you expect to meet the required business threshold and declare whether or not you are a reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. If you are a reporting entity, you must indicate who your supervisor is.

More information about the business threshold and reporting entities is available in the help guides on our website.

At this point you’ll also be asked to select the month you wish to file your annual confirmations. The filing date defaults automatically to the current month, but you have the option to change the month (so long as it’s not December or January). Once you’re happy with the information, select ‘Next Step: Addresses’.

Visuals

The ‘Register FSP (Individual)’ screen appears displaying the ‘Addresses’ part of the application. The cursor scrolls down the screen showing the fields that need to be completed under this part of the application.

Finally the cursor moves to, and selects, the button at the bottom of the screen labelled ‘Next Step: Financial Services’.

Audio

On the ‘Addresses’ screen submit your residential and business and address for communication, along with your business and personal email.

Please note that we’ll use your personal emails for communication only, and these will not be publicly listed. Once you’ve provided the required information, select ‘Next step: Financial Services’.

Visuals

The ‘Register FSP (Individual)’ screen appears displaying the ‘Financial services’ part of the application. The cursor scrolls down the screen showing the fields that need to be completed under this part of the application.

The cursor moves to, and selects, the checkbox beside ‘Financial advice service (including financial advisers) and another set of fields are displayed showing that additional information is required. The cursor selects one of the licensed services.

The then cursor moves down the screen to the Dispute Resolution Scheme section. You’ll see the cursor moving to, and selecting, the ‘Yes’ option beside the question ‘Are you providing any financial services to retail clients?’

Finally the cursor moves to, and selects, the button at the bottom of the screen labelled ‘Next Step: Declaration’.

Audio

From the ‘Financial Services’ screen, you can select the services you intend to provide. Only services that individuals can offer will be available.

Depending on the services you select, you may need to provide additional information, or apply to a licensing authority.

If you are providing a financial service to retail clients, you’ll need to supply information about your disputes resolution scheme (DRS). At the bottom of the screen, you will need to select ‘Yes’ that you are providing financial services to retail clients.

You’ll need to apply to join an approved DRS and enter those details on the register within 10 days of your registration being confirmed. For more information about choosing a DRS, read the help guide on our website.

Once you’ve completed this section, click ‘Next step: Declaration’.

Visuals

The ‘Register FSP (Individual)’ screen appears displaying the ‘Declaration’ part of the application. The cursor scrolls down the screen showing the fields that need to be completed under this part of the application.

The cursor moves to, and selects, the checkbox beside ‘I have read and confirmed the declaration above’.

Lastly the cursor moves to, and selects, the button at the bottom of the screen labelled ‘Next Step: Review’.

Audio

On the ‘Declaration’ screen, make sure you take the time to carefully read the declaration statement.

Once you have done this, you will need to confirm that you are the person named in this application or have been authorised by the named applicant have read/understood the declaration. Then select ‘Next Step: Review’ to check the information you've entered.

Visuals

The ‘Register FSP (Individual)’ screen appears displaying the ‘Review’ part of the application. The cursor scrolls down the screen showing the fields that need to be checked before submitting your application.

The cursor moves to, and shows, the checkbox has been selected beside ‘I confirm that, to the best of my knowledge, the information I have provided is true and accurate.

Finally the cursor moves to, and selects, the button at the bottom of the screen labelled ‘Submit’.

Audio

Finally on the review screen, confirm that the information you’ve provided is true and correct, and once you are happy, select the confirmation at the bottom and select click ‘Submit’.

Visuals

The payment screen appears displaying examples of registration fees and levies that may be payable. You can also see the payment options listed – Credit or Debit Card or Internet Banking. The cursor moves to, and selects, the button at the bottom of the screen labelled ‘Process Payment’.

Audio

At this stage if you have selected a financial service that requires the payment of a levy or fee, you will be asked to enter your payment information. Once you are happy with the information you’ve submitted, select process payment.

Visuals

A screen appears that describes what will happen next (Note the audio reads the wording on the screen).

Audio

What happens next? After you’ve submitted your application, we may need to carry out a criminal history check. This will take 2 to 5 working days. If there are no problems, we’ll send you confirmation that your registration is complete. You can then provide services not requiring a licence.

If you've applied to provide licensed services only, then you’ll need authorisation from a licensing authority, for example the Financial Markets Authority (FMA), for at least one of those services, before we can complete your registration.

For more information on licensing, we have provided help guides on our website.

Visuals

A screen appears that shows the website address for the FSPR Help centre - https://fsp-register.companiesoffice.govt.nz/help-centre.

Audio

For more information on navigating the new FSPR, be sure to check out our other videos or refer to the online help guides on our website.

FSPR Help centre