Enforcement action on CSPs & RQIs

Compliance requirements

All registered CSPs must comply with the Corporate Service Providers Act 2024 and the Corporate Service Providers Regulations 2025.

These include requirements for:

• Anti-money laundering (AML) measures

• Counter-terrorism financing (CFT) controls

• Countering proliferation financing

More details: Guidelines for registered CSPs

Penalties for non-compliance

You can face a maximum fine of $100,000 if convicted of failing to:

• Check that a person is fit and proper before appointing them as a nominee director

• Perform customer due diligence checks to prevent money laundering, proliferation financing, and terrorism financing. This includes keeping required records in specified situations.

Enforcement actions

If you breach your duties, ACRA will start a show cause process. This gives you a chance to explain your actions before ACRA decides on enforcement.

After this process, ACRA may:

• Cancel or suspend your registration

• Limit your access to ACRA’s online filing system

• Impose a financial penalty of up to $25,000 for each breach (within a specified period)

• Issue a formal warning (censure)

Compliance requirements

All RQIs must comply with the Corporate Service Providers Act 2024 and the Corporate Service Providers Regulations 2025.

Key duties include:

• Overseeing ACRA transactions

• Supervising authorised staff who carry out transactions

• Reporting and correcting any errors or issues that arise during transactions

More details: Guidelines for registered CSPs

Enforcement actions

If you breach your duties, ACRA will start a show cause process. This gives you a chance to explain your actions before ACRA decides on enforcement.

After this process, ACRA may:

• Cancel or suspend your registration

• Limit your access to ACRA’s online filing system

• Impose a financial penalty of up to $10,000 for each breach (within a specified period)

• Issue a formal warning (censure)