It's possible to reregister some FSPs to the Financial Service Providers Register that have been deregistered recently.
Section 22 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (‘the Act’) allows the Registrar to reregister an FSP if the Registrar is satisfied that either:
- The FSP was still in the business of providing a financial service when the provider was removed under s18 (1)(b); or
- In the case where the deregistration was due to non-payment, the Registrar is satisfied that all fees have been paid since the FSP was deregistered under s18(1)(d).
Note | The Registrar will only accept applications for reregistration that are submitted within two months of the deregistration date. Outside that timeframe the FSP must start a new application.
How do you reregister your FSP?
You can request to reregister your FSP online:
- You must be a registered user of the website.
- You must have had authority over the FSP before it was deregistered.
There are no fees charged to apply for reregistration of an FSP. Any outstanding fees must be paid to the Registrar before the reregistration application will be accepted. Any outstanding annual confirmation must be filed (including associated fees) within 20 working days of the reregistration application being accepted, or reregistration will be cancelled.
Step 1 - Login
Step 2 - Search the register for the FSP you wish to reregister.
Step 3 - Select My Tools then choose Request Reregistration.
Step 4 – Enter the reason for reregistration.
Step 5 – Provide further information about the reregistration request in the Comments field.
Step 6 – Attach any supporting documentation by selecting the Browse… button. Select the Upload to Server button to attach your documentation.
Step 7 – Select the Submit button to send us request to reregister.
Step 8 - Confirm you wish to proceed with reregistration.
What happens next?
We will process your reregistration request within two working days and notify you via email of the outcome.
If you're reregistering because you failed to file your annual confirmation, once your application is accepted by the Registrar you will be prompted to file the outstanding annual confirmation within 20 working days.
If we accept your request for reregistration we will advertise the reregistration on the Financial Service Providers website for 20 working days and notify any relevant licensing authority and dispute resolution scheme provider.