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Authorised body under a financial advice provider licence

An authorised body is an entity (eg company or partnership) named on a Financial Advice Provider licence. A licensed FAP must agree to an authorised body operating under its licence. The authorised body must be named on the financial advice provider’s transitional licence application, and the licensed FAP will be required to provide information about the authorised body when it applies for its licence. Individuals cannot be authorised bodies under a FAP licence and individual financial advice provider licence holders cannot engage authorised bodies under their licences. Find out more about registration, costs, ongoing obligations, duties, standard conditions, general reporting conditions, code of professional conduct, competency safe harbour, and liability and enforcement on this page.

Financial adviser

To use the term Financial Adviser from the start of the new financial advice regime, you must be registered on the Financial Service Providers Register (FSPR) and engaged by a licensed financial advice provider (FAP) (or authorised body).　 Find out more about licensing, your ongoing obligations and duties and complying with the new Code of Professional Conduct; liabilities and enforcement and frequently asked questions on this page.

Working with a financial adviser

Learn what it's like working with an adviser. All advisers must follow the new Code of professional conduct for Financial Advice Services.

Financial Advice Provider licensing

Find out who needs a Financial Advice Provider (FAP) licence, what to do before you apply for a licence, how to engage financial advisers, variation to licence forms, how to cancel your licence and the costs involved in applying for a FAP licence.

Reasonable grounds for financial advice about financial products

Guidance on the FMA’s approach to applying and enforcing Code Standard 3 of the Code of Professional Conduct for Financial Advice Services, in relation to financial advice about financial products purchased for investment purposes.

Consultation: Proposed guidance on reasonable grounds for financial advice about IPOs and listed equity securities

We are consulting on proposed guidance that explains the FMA’s approach to applying and enforcing Code Standard 3 of the Code of Professional Conduct for Financial Advice Services, in relation to financial advice about Initial Public Offerings (IPOs) and listed equity securities.

Code of Professional Conduct for Financial Advice Services

The Code of Professional Conduct for Financial Advice Services is prepared in accordance with Part 4 of Schedule 5 of the Financial Markets Conduct Act 2013 (the FMC Act). The Code supports the purposes of the FMC Act including promoting the confident and informed participation of businesses, investors, and consumers in the financial markets, avoiding unnecessary compliance costs, and ensuring the availability and quality of financial advice.

Commissioner for Financial Advisers Receives Draft Code of Professional Conduct

The Commissioner for Financial Advisers, David Mayhew, today received from the Code Committee the draft code of professional conduct for authorised financial advisers for his approval under the Financial Advisers Act 2008.

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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.