Deregistration of a financial service provider (FSP) by the Registrar

When we may deregister an FSP – and how to object

The Registrar may decide to deregister an FSP, or be instructed to do so. Where we’ve initiated the deregistration, we'll notify you of our decision and you'll have 20 working days to lodge an objection.

Reasons we deregister an FSP

We may deregister an FSP for any of the following reasons:

  • its registration was accepted based on false or misleading information
  • payments of fees are dishonoured, declined or reversed
  • where required to, it failed to join a dispute resolution scheme (DRS) within 10 working days of registering or being engaged by a financial advice provider
  • it failed to file its annual confirmation
  • we're notified by another agency that the FSP is no longer operating or qualified to operate — for example, by the Financial Markets Authority (FMA) or the Financial Advisers Disciplinary Committee (FADC). Should this be the case, deregistration is immediate and no notice is given.

Receiving notice of intention to deregister

If we take action to deregister your FSP, we’ll notify you first by email and also send you a letter. This contains information about how to object and the final date for lodging an objection.

How to object to deregistration

Only someone with authority to act for an FSP can lodge an objection, and they must do so within 20 working days of receiving email notification of our intention to deregister the FSP.

While you're not required to login to complete this request, you must have the following:

  • a RealMe® login
  • an online services account with the FSPR
  • authority to act for your FSP.

To lodge an objection to the deregistration of an FSP complete and submit our objection form.
Object to the deregistration of an FSP

What happens next

After we've considered your objection, we’ll email you the outcome. We may accept, reject or extend the objection period, if necessary.

If your objection is accepted, we’ll cancel the deregistration of your FSP.

If we reject your objection, we’ll notify:

  • you — and let you know that you have the right to appeal the decision in the High Court (or the District Court if relevant)
  • any authorities you're licensed by to provide financial services — that is, the FMA or the Reserve Bank
  • the DRS you belong to, if applicable
  • the public, by placing a notice of deregistration against your FSP on the Financial Service Providers Register (FSPR).

In some cases you may be able to reregister, but you must do that within 60 days of being deregistered.

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).

Providing licensed or certified services 5 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.