Licences

We take responsibility for preparing your market service licence application and ensuring that your business is presented to the Financial Markets Authority accurately, and in the best possible light.

The Financial Markets Conduct Act 2013 (FMC Act) provides a regime for the licensing and monitoring of persons and entities that provide financial products. It governs how financial products are created, promoted and sold, and the ongoing responsibilities of those who offer, deal and trade them in New Zealand.

 

Preparing an application for a market service licence application under the FMC Act is a critical process.  It’s the beginning of your relationship with the Financial Markets Authority (FMA) and establishes your business as a credible and competent market participant. We take responsibility for preparing your market service licence application and ensuring that your business is presented to the FMA accurately, and in the best possible light.  Our applications are always tailored to the individual client and the specifics of their business.  We also offer ongoing support, as well as post licensing assistance with ongoing compliance obligations.

We follow the process set out below when preparing market service licence applications under the FMC Act:

Initial Consultation

Before you engage us, we will meet with you and discuss your business requirements and your intentions.  We will provide you with an overview of the licence application process and the requirements that will need to be demonstrated prior to a market service licence being granted by the FMA.  We will also provide guidance on the key issues that your business is likely to face before, during and after the application process.

Application Preparation

We will work closely with you to understand your business and develop your market service licence application.  Your application will be managed by one of our consultants, supported by other technical specialists as required.

FMA Assessment

We will steer you through the process of submitting your application to the FMA and responding to their queries.

Post Licencing

We offer post licencing assistance with ongoing compliance obligations and satisfaction of the terms and conditions of your market service licence.  Our services include:

  • Assisting you with the ongoing satisfaction of your licence conditions.
  • Implementing and managing your risk and compliance framework.
  • Developing and implementing an assurance framework designed to assess the adequacy and effectiveness of your policies, procedures and controls.
  • Independent assurance testing.
  • Helping you get ready for monitoring visits by the FMA or your Supervisor.
  • Delivering ongoing risk, compliance and regulatory training to your staff, compliance officer, senior managers and directors.
  • Staying up-to-date with legislative changes, regulatory updates and news.
  • On-site compliance assistance.
  • Ad hoc support and guidance.

Feel free to contact us at any time if you would like further information about how we can assist you with your market service licence application.  We don’t charge for an initial consultation, and in this consultation we will give you guidance and let you know how we can assist.

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