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How the FAP licence classes compare

FMA guide compares Class 1, 2, and 3 FAP licences to help financial advisers choose the right licensing option for their business.

FAP licences Classes of financial advice service

The FMA specifies three licence classes for financial advice providers (FAP): Class 1, Class 2 and Class 3. See section 395(2) of the Financial Markets Conduct Act 2013 as amended by the Financial Services legislation Amendment Act 2019 (FMC Act). Licence classes apply to the manner in which regulated financial advice may be provided but do not limit the types of financial advice that may be provided under the licence, as the latter is addressed by the competency requirements in the Code of Professional Conduct for Financial Advice Services.

Feedback form Foreign listed issuers climate reporting exemptions

Feedback form for those who wish to respond to the FMA Consultation: Proposed exemptions for foreign listed issuers from climate reporting duties.

8 steps to apply for a FAP licence

FMA guide outlines 8 steps to apply for a Financial Advice Provider (FAP) full licence, covering licence classes, questions, and tips.

Consultation on proposed exemptions for foreign listed issuers

Consultation document from the FMA iseeking feedback on the need for, and the content of, proposed exemptions for foreign exempt issuers from climate reporting duties.

Licensing guide - FAP

This guide is for businesses and individuals intending to apply for a Financial Advice Provider (FAP) Licence.

Financial advice regime obligations

If you provide regulated financial advice to clients you will need to fulfil a number of duties. These duties aim to ensure all New Zealanders have access to quality financial advice, and to help build public confidence in advisers – a good thing for everyone.

Market index exemption renewal feedback form

Feedback form for consultation: FMA is seeking feedback on whether to renew a class exemption for MIS managers where assets do not have an appropriate market index.

Market index exemption renewal consultation paper

Consultation document: FMA is seeking feedback on whether to renew a class exemption for MIS managers where assets do not have an appropriate market index.

Du Val Capital Partners Limited and Du Val Group NZ Limited - Formal Warning

Formal warning issued to Du Val Capital Partners by the FMA on 10 March 2023.

KiwiSaver statistical returns user guide

User guide for KiwiSaver managers on completing the annual statistical return, covering income, fees, membership, fund data, and withdrawals.

FAP regulatory returns questions Class 1

Final question set for Class 1 FAPs detailing regulatory return requirements across advice services, complaints, outsourcing, and continuity.

FAP regulatory returns questions Class 3

Final question set for Class 3 FAPs covering advice models, nominated reps, outsourcing, client property, digital advice, and cybersecurity controls.

FAP regulatory returns questions Class 2

Final regulatory return questions for Class 2 FAPs covering advice services, authorised bodies, outsourcing, complaints, and tech systems.

Notice of approved auditing courses

FMA-approved auditing courses list for auditor licensing in New Zealand, including current and legacy qualifications from CAANZ, CPA, ICAEW, and more.

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