Consultation: Proposed standard conditions for financial advice provider transitional licences

The FMA is consulting on two standard conditions we are considering imposing for transitional licences, as part of the new financial advice regime.

The Financial Services Legislation Amendment Act 2019 (FSLAA) will introduce a new regulatory regime for financial advice. Once the new regime comes into force in June 2020, anyone who provides regulated financial advice to retail clients will need to operate under a financial advice provider licence. There will be two phases to the financial advice provider licensing process – transitional and full. All transitional licence holders will need to comply with the standard conditions.

We seek your feedback on our proposal.