If the entity is set up and meets the definition of an FI then it must be registered. If it has no reportable accounts then it will file a Nil filing. The entity will need to consider whether funding affects it being classified as a FI or not.
If the entity is set up and meets the definition of an FI then it must be registered. If it has no reportable accounts then it will file a Nil filing. The entity will need to consider whether funding affects it being classified as a FI or not.