SCOM 2012 License key registration error

During my SCOM setup process @ customer site came up with the issue of unable to register the License key for the SCOM Management server. Exact steps I followed are as follows,

1. Open the Operations Manager Shell with elevated access
2. Type Import-module OperationsManager and press “Enter”
3. Type New-SCOMManagementGroupConnection and press “Enter”
4. Type Set-SCOMLicense –productid <the SCOM 2012 serial key> and press “Enter”
5. Type Y to confirm the Set-SCOMLicense action and press “Enter”

After that greeted with an error stating “Requested registry access is not allowed” Tried opening the Opening “Operations Manager Shell” with domain administrator but still with the same error.

Thanks to below mention blog post I managed to save hours of researching and solve the matter.

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