Registering an FSP as an individual

How to apply online

To register as an individual on the Financial Service Providers Register (FSPR) you’ll need to submit an online application, and provide details about yourself and your business.

Who should register as an individual

Anyone providing a financial service as an individual (including financial advisers and financial advice providers offering advice directly) should use this process to register.

Before you start

When you apply, you'll need to have already gathered the necessary information about yourself and your business.

You should also have decided how you wish to run your business and, if a financial adviser, considered your options for engagement by a financial advice provider (FAP).

Fees for registering

You’ll need to pay the following fees when registering as an individual FSP:

  • an application fee of $300 (plus GST)
  • an FMA levy of $480 (plus GST)
  • $35 (plus GST) to cover the cost of your criminal history check, unless you've undergone a successful check within the last 36 months.

Applying to register

Before you can apply to register online, you’ll first need to have:

  • a RealMe® login
  • an online services account with the FSPR.

Individuals applying to register as an FSP should then follow these steps:

  1. Log in to your online services account.
  2. Select ‘Register FSP (Individual)’ from the dashboard.
  3. Complete your application, entering the required details, which include:
    • previous FSP numbers (if any)
    • any trading names used
    • other names you’ve been known by (maiden name or aliases)
    • confirmation that you expect to meet the required minimum threshold
    • whether or not you are a reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009
    • the month you'll file your annual confirmation
    • your business and contact addresses
    • the financial services you’ll be providing
  4. On the ‘Declaration’ tab, confirm that you are either the person named, or have been authorised by the applicant; and that you have read and understood the declaration.
  5. Select the ‘Review’ tab to check the information you've entered.
  6. Confirm that the information you have provided is true and accurate.
  7. Click on ‘Submit’.
  8. On the payment screen choose payment option and ‘process payment’ to complete your application.

Register an FSP - Individual
New Zealand Companies Office

View transcript

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

What happens next

Criminal history check

If required, a criminal history check will be carried out. This will take between 2 and 5 working days, and we’ll email you once the check has been completed.

If there are no problems, or a check is not needed – and you’ll be offering at least one non-licensed service – your registration is complete.

If you're applying for licensed services

If you've applied to provide licensed services only, you’ll need authorisation from either the Financial Markets Authority (FMA) or the Reserve Bank of New Zealand, for at least one of those services, before you can be registered.

After you've registered

Joining a dispute resolution scheme (DRS)

If you're offering financial services to retail clients, you will in most cases be required to belong to an approved dispute resolution scheme (DRS), and submit your DRS membership details within 10 working days of registering, or becoming engaged by a FAP.

Linking to a FAP (financial advisers)

Registered financial advisers must be engaged by (‘linked to’) a licensed financial advice provider (FAP) within 3 months of their registration date, otherwise they face being deregistered.

Filing an annual confirmation

As a registered financial service provider, you must file an annual confirmation in the month you have accepted, or nominated when you registered. We’ll send you a reminder when it is due.

All help topics

Getting started on the register 4 guides

A new financial advice regime came into effect on 15 March 2021 which also brought about changes to the Financial Service Providers Register.

Registering a financial service provider (FSP) 9 guides

Dispute resolution schemes (DRSs) 2 guides

If you provide financial services to retail clients, you must join a DRS within 10 working days of registering and keep your membership details up to date on the Financial Service Providers Register (FSPR).

Applying to provide licensed services 4 guides

Filing an annual confirmation 3 guides

To remain registered as a financial service provider (FSP) you must confirm your FSP's details and services each year. Find out how to file your confirmation online, or to change the month you do it

Managing your registration as a financial service provider (FSP) 6 guides

Deregistration and reregistration 3 guides

You can voluntarily deregister a financial service provider (FSP), or it may be deregistered by the Registrar. In some circumstances you can object to a deregistration, or apply to have the FSP reregistered.

Paying fees and levies 3 guides

If you're a financial service provider (FSP), you pay fees for some transactions, including registration. You also pay levies to the Financial Markets Authority (FMA). There are several ways to pay.

Managing your online services account 6 guides

Your FSPR online services account allows you to keep your FSP's contact and payment details up to date. From your account dashboard you can view and manage outstanding applications and tasks.