Exemptions

The Anti-Money Laundering and Countering Financing of Terrorism Act provides for 2 types of exemptions - regulatory exemptions and ministerial exemptions. The Minister of Justice (MoJ) may grant a ministerial exemption from any or all provisions of the Act. Exemptions may be granted for businesses, transactions, products, services or customers and may be subject to conditions. The MoJ is now inviting applications for ministerial exemptions under the Act. For further information and a copy of the ministerial exemption policy visit the Ministry of Justice website. The Anti-Money Laundering and Countering Financing of Terrorism (Ministerial Exemption Form) Regulations 2011 prescribe the form in which the Minister must make ministerial exemptions.

In certain circumstances you may be able to obtain an exemption from compliance with broker and/or custodian obligations under the Financial Advisers Act 2008, the Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014, the Financial Markets Conduct Act 2013 and the Financial Markets Conduct Regulations 2014.  You must meet the prescribed statutory criteria in order for FMA to consider your application for an exemption.

See Apply for a digital advice exemption for more information about how to apply to provide personalised digital advice under the Financial Advisers (Personalised Digital Advice) Exemption Notice 2018.

In certain circumstances, it may be possible to obtain an exemption from being registered as a financial adviser or from any of the obligations under the Financial Advisers Act 2008, regulations or the Code of Conduct.  This includes overseas advisers. Read more.

We have regulatory powers to grant financial reporting exemptions and vary financial reporting public accountability designations. Read more.

The FMC Act offer regime is simpler and more efficient than the previous Securities Act regime. However, in some cases, businesses may encounter difficulties offering financial products under the FMC Act regime. In some circumstances, exemptive relief from a regulatory or disclosure requirement may be appropriate. Read more.

• Information to include in your exemption application' to help you complete your application. 
• Applications to exclude commercially sensitive information from material contracts 

You must also include a draft exemption notice.

Exemption fees are set by regulations of the relevant legislation. You need to pay the application fee and an advance fee for fees and costs to be incurred as set out in the table below. We will charge any additional time spent on an hourly basis as set out in the table.

Please note: all fees are inclusive of GST.

We can also recover the cost of obtaining expert assistance in relation to particular applications. Applicants must also reimburse us for the costs of notifying the exemption notice in the Gazette, where applicable.

* This is the name of the person paying the application fee. This person will be invoiced for any subsequent fees and costs

Note:

• payment by credit card is not available for this application process
• only forward a hard copy of your application if you are paying by cheque.