What are the prerequisites for registration?
Up one level
In order to apply to be registered, all financial service providers who provide a service to retail clients must be a member of an approved consumer dispute resolution scheme, or the Government’s reserve scheme.
Applicants must also ensure they are not disqualified from registration. Individual applicants must not be undischarged bankrupts or banned directors. They must have a record clear of fraud and other criminal offences specified in the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (a criminal history check will be conducted as part of the registration process). All entity applicants must ensure that their directors, senior managers and controlling owners are not individually disqualified.
All providers must pay the appropriate fees.
![[image] flowchart icon portlet.](http://www.business.govt.nz/fsp/image-library/Flowchart.jpg)
![[image] registration guides.](http://www.business.govt.nz/fsp/image-library/resources/rules-is-rf.gif)
