Under the Securities Trustees and Statutory Supervisors Act 2011, securities trustees and statutory supervisors have to be licensed.
If, on 1 October 2011, a person was acting as a securities trustee or statutory supervisor, they are deemed to have a temporary licence. They must then complete their full licence application and submit it to FMA, along with a fee.
Persons not already acting as securities trustees or statutory supervisors who wish to be licensed to do so can also apply from 1 October 2011. The temporary licence provisions do not apply to new applicants.
For full details of the application process, see the licensing guidance note. A summary of key information is provided below.
Application form
All licence applicants must complete a licence application form. The form contains details of how to submit your licence application fee.
Supporting documentation
Applicants will need to provide supporting documentation. The application form page has information about how to submit this information.
Licence duration and conditions
A licence may be granted for up to eight years. The actual duration granted will be assessed on a case-by-case basis and conditions may apply. See the guidance note for more details.