What happens if I don’t register?
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Financial service providers must be registered to legally provide financial services. If they provide, or offer to provide, financial services without current registration, they are in breach of section 11 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008.
If a financial service provider provides, or offers to provide, financial services while in breach of the Act:
- individuals face up to 12 months imprisonment or a fine not exceeding NZ$100,000
- body corporates such as companies, building societies and credit unions face a fine not exceeding NZ$300,000.
![[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)
