Do I need to be licensed, registered or authorised?

Updated: Apr 13, 2018

What are the current rules? Are you and your company compliant?

Registration for individuals

All individuals who provide a financial service (broadly comprising of either a financial adviser service, a broking service, or keeping, investing, administering, or managing money, securities, or investment portfolios on behalf of other persons) need to be registered on the Financial Service Providers Register to provide that service. This is a requirement under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (FSP Act 2008).

Note that advisers who are employed by a qualifying financial entity (QFE) as a QFE adviser, do NOT have to be individually registered but the QFE does.

Find out about the individual registration process.

Authorisation for individuals

Not all financial advisers need to be authorised by the Financial Markets Authority, and it will depend on the type of financial product (category 1 or category 2) in relation to which the financial adviser service will be provided.

To become an AFA you need to meet eligibility requirements, including minimum competence requirements and good character.

Find out more about applying for authorisation.

Licensing for individuals

Some advisers will also need to hold a licence under the Financial Markets Conduct Act 2013. Licences are issued by the Financial Markets Authority to enable AFAs to provide specific services to certain clients. An adviser will need a license to provide clients with advice on those services.

Registration for companies and businesses

Businesses offering financial services in New Zealand must be on the Financial Service Providers register (FSPR). Some common examples of financial service provider businesses are:

  • Building societies and credit unions

  • Credit providers

  • Credit unions

  • Money changers

  • Finance companies

  • Fund managers

  • Insurance companies

  • Investment portfolio managers

  • Issuers

  • Registered banks

Licensing for companies and businesses

Companies/businesses involved in providing a market service under the Financial Markets Conduct Act 2013 will need to be licensed by the FMA to do business. These services include:

  • Crowdfunding platforms

  • Independent Trustees

  • Supervisors

  • Derivatives issuers

  • Discretionary investment management services

  • Managed investment scheme managers

  • Peer-to-peer lending

Find out more about the FMA licensing requirements.


204 Karamu Road N,

Hastings 4122

  • White LinkedIn Icon
Send us a message

© 2018 by Boutique Advisers Alliance Limited | Privacy Policy