PART A This guide contains information about the licensing process and includes many FAQs you might have and explains how to use our online application form(currently unavailable); create a RealMe® identity, if you don't already have one and pay your licensing fee.
PART B This guide contains all the specific questions you’ll be asked and the minimum standards you’ll need to show you meet. It also details the information and supporting documents you’ll need to provide when you submit your application.
Standard Conditions for discretionary investment management service (DIMS) licences
In your application, you'll need to demonstrate how you can meet the minimum standards and conditions for your licence - or ask us for a limit or variation using the forms below. This is very important because when a licence is granted, they contain conditions that support your licensee obligations. They include conditions imposed by the FMC Act, the regulations, and any conditions imposed by the FMA.
This document is for providers of Discretionary Investment Management Services (DIMS) to retail clients. It may also be helpful for people providing custody services to DIMS providers, and to those providing financial advice about DIMS. It contains some key terms and common questions, as well as practical examples and scenarios to help explain our approach to regulating DIMS.
Quick guide to licence applications for small businesses providing DIMS
This guide supplements our main licensing application guide. It outlines how a small business providing lower risk Discretionary Investment Management Services (DIMS) can approach an application for a DIMS licence under the Financial Markets Conduct Act 2013 (FMC Act).
Licensing overview report 2017: what you need to know to meet your licence obligations.
It is helpful to read the Licensing overview report alongside the guide to the FMA’s view of conduct. Together, these documents give a good indication of our areas of future focus, our overall approach to monitoring; and what we expect of licensed providers of financial products and services.
We understand that some people may not be able to print, sign and scan documents at the moment, due to the COVID-19 alert levels. If that is the case for you:
If you have an electronic signature, please affix that to the signature block and return the form to us.
If you do not have an electronic signature, rather than sign the document, please read it carefully, fill in all of the text boxes and then email it back to us with the following text in your email: “I confirm that, when making the personnel change(s) notified in this form, we have followed our internal policies and processes and maintain the fit the proper standards for licensing.”
Notification required by licensing standard conditions
To notify us of a change in your key people and managers as required by the licensing standard conditions, please send an email to firstname.lastname@example.org outlining what the changes are and the qualifications and experience of the new or replacement personnel, e.g. attach their c.v.
Note that this is a standard condition for the following licence types: DIMS, crowdfunding, independent trustee (for corporates), MIS and peer-to-peer lending.