Fees may apply when making an application to the FMA for certain licences, authorisations, and registrations.
Type of licence | Application fee | Assessment hours included |
Manager of registered scheme | $3,565 | 25 |
Discretionary Investment Management Service (DIMS) provider | $2,139 | 15 |
Independent trustee of a restricted scheme | $2,139 | 15 |
Derivatives issuer | $10,695 | 70 |
Crowdfunding service | $6,238.75 | 40 |
Peer-to-peer lending service | $6,238.75 | 40 |
The fees above are payable to the FMA when you apply for a new FMC Act licence.
We may charge an additional fee at the FMA hourly rate where our assessment of an application exceeds the included number of hours stated above.
If an additional fee is charged for your application we will let you know in advance and provide you with the reasons for this. We may also invoice you for any costs of external advice or assistance.
The fee for an application to vary an existing licence (other than for adding a new type of financial market service to an existing licence) is $115. This is payable to the FMA when you apply to vary an existing licence. We will then invoice you for the time spent assessing a variation application, based on the FMA hourly rate.
There is a reduced fee if you apply to:
if the application is made at the same time as, or within 6 months of, applying to be licensed for, or vary, another market service.
A 50% reduction of the application fee applies for each application that meets the above criteria. This excludes the derivatives issuer licence fee, which is subject to a reduced fee of $9,090.75 if the application meets the above criteria. The reduced fee is payable when you apply for the new financial market service.
For more information see the Financial Markets Conduct (Fees) Regulations 2014.
Application type | Fee |
Application for AFA authorisation | $1,144.89 |
Application for QFE status | $4,886.22 |
Renewal of AFA authorisation | $572.44 |
Renewal of QFE status | $4,600 |
The fees above are payable to the Companies Office when you apply to become an AFA or a QFE. This is additional to the fee for registration as an FSP.
The fee to vary the terms and conditions of an AFA authorisation or QFE status is $115. This is payable to the FMA when you apply for the variation. We will then invoice you for the time spent assessing the variation application, based on the FMA hourly rate.
For more information see the Financial Advisers (Fees) Regulations 2010.
Overseas auditors and audit firms
The above fees are payable to the FMA when you apply for a standard licence (auditors) or registration (audit firms). Firms may pay fees for multiple individuals’ applications together.
You will also be charged an additional fee at the FMA hourly rate based on how much time is spent assessing your application. We will invoice you for the additional assessment fee. We may also invoice you for any costs of external advice or assistance.
We also invoice overseas auditors and audit firms an annual fee of $110 for maintenance of the Auditors Register.
New Zealand auditors and audit firms
New Zealand-based auditors and audit firms should contact accredited bodies NZICA or CPA Australia for information about licensing, audit firm registration and associated fees.
Registered audit firms, and New Zealand-based licensed auditors who are not a partner or employee of a registered audit firm, are subject to a quality review at least once every four years.
We will invoice you for your quality review fee, which will be based on the FMA hourly rate. We may also invoice you for any costs of external advice or assistance.
For more information see the Auditor Regulations 2012.
The application fee for a licence to operate a financial product market, vary an existing licence, or approve a market rule change is based on the amount of time spent on the application. This is charged at the FMA hourly rate.
For more information see the Financial Markets Conduct (Fees) Regulations 2014.
The application fee for entry of a foreign passport funds under reg 12(1)(a) of the Financial Markets Conduct (Asia Region Funds Passport) Regulations 2019 is based on the amount of time spent on the application. This is charged at the FMA hourly rate (see above). We will send you an invoice for the amount you need to pay.
For more information see the Financial Markets Conduct (Fees) Regulations 2014.
For general information on the levies payable by financial markets participants see NZ funds passport funds below.
For specific information on the fees and levies payable by foreign passport funds see our Guidance for foreign passport fund operators.
The fee for an application to be registered as a passport fund under s 134(3) of the FMC Act is based on the amount of time spent on the application. This is charged at the FMA hourly rate (see above). We will send you an invoice for the amount you need to pay.
For more information see the Financial Markets Conduct (Fees) Regulations 2014.
Standard levies applicable to registered managed investment schemes apply for New Zealand passport fund participants. For general information on the levies payable by financial markets participants including licensed managers (of registered schemes) and licensed supervisors of managed investment products in registered schemes see below.
Requests to approve a scheme as a Schedule 3 scheme under clause 2, Schedule 3 of the Financial Markets Conduct Act 2013 are subject to a fee of $178.25. This is payable to the FMA when you apply.
For more information see the Financial Markets Conduct (Fees) Regulations 2014.
The fee for a supervisor licence application is $8,021.25. This is payable to the FMA when you apply.
We may charge an additional fee at the FMA hourly rate where our assessment of an application exceeds 52 hours.
If an additional fee is charged for a new licence we will let you know in advance and provide you with the reasons for this.
Variations to existing licences
The initial fee for an application to vary an existing licence is $115. We will also charge a fee for the time spent assessing a variation application, based on the FMA hourly rate.
For more information see the Financial Markets Authority (Fees) Regulations 2011.
The Financial Markets Authority (Levies) Regulations 2012 (the Regulations), as amended in 2020, set out the levies payable by industry. The levies are set by the Ministry of Business, Innovation, and Employment (MBIE).
The FMA receives funding from the Crown and a proportion of our costs is recouped from industry through levies.
The table below provides a high-level description of each class. For the full description of classes, see Schedule 2 in the Regulations.
Class | Description |
1 | Persons making an application for registration on the Financial Service Providers Register |
2 | Registered banks and licensed non-bank deposit takers |
3 | Licensed insurers |
4 | Licensed supervisors of debt securities and managed investment products in registered schemes |
5 | Licensed managers (of registered schemes) |
6 | Persons who undertook trading activities on licensed markets, contributory mortgage brokers, trading financial products or foreign exchange on behalf of other persons (other than persons included in class 6A, 6B, 6C or 6D), licensed derivatives issuers, or authorised financial advisers |
6A | Discretionary investment management service (DIMS) retail providers |
6B | Registered brokers (as defined in the Financial Advisers Act 2008), other than persons who undertook trading activities on licensed markets, registered custodians and persons providing custodial services |
6C | Registered custodians and persons providing custodial services |
6D | Crowd funding service providers and peer-to-peer lending service providers |
6E | Licensed financial benchmark administrators |
7 | All other financial service providers that are not included in any of classes 2 – 6E |
8 | Listed issuers (other than persons included in class 8A) |
8A | Small listed issuers |
9 | Lodgement of a product disclosure statement (PDS) |
10 | Licensed market operators |
10A | Licensed market operators that operate growth markets (other than persons included in class 10) |
11 | FMC reporting entities that lodge financial statements (or group financial statements) and auditor’s reports |
12 | Accredited bodies |
13 | Licensed overseas auditors |
14 | Persons that apply for registration or incorporation under the Building Societies Act 1965; the Companies Act 1993; the Friendly Societies and Credit Unions Act 1982; or the Limited Partnerships Act 2008 |
15 | Persons that are registered or incorporated and required to make annual returns under the Building Societies Act 1965; the Companies Act 1993; the Friendly Societies and Credit Unions Act 1982; or the Limited Partnerships Act 2008 |
It is the responsibility of each financial service provider to ensure they are registered for the service(s) they provide and have paid the appropriate levies. As part of their online annual confirmation to the Registrar, they must select all of the applicable classes to determine the levies payable and confirm the information they have provided is true, correct and complete.
Under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (the FSP Act) it is an offence to:
These offences could result in a fine of up to $100,000 and/or imprisonment for individuals, and a fine of up to $300,000 for businesses.
It is also an offence under the FSP Act to fail to notify the Registrar if any of the details contained on the FSPR are no longer correct. Failure to notify could result in a fine of up to $10,000.
You will need to email the following information to compliance@fma.govt.nz with the subject line ‘Levy waiver application’.
Payment option | How to pay | Additional information |
Electronic deposit or internet banking | Where bill pay is available please select ‘Financial Markets Authority - Other' Otherwise, our bank details are: Bank: Westpac Account name: Financial Markets Authority Account number: 03-0584-0198005-000 |
To ensure we process your payment correctly please provide the following information: Particulars: Payer’s name* Code: Waiver Reference: Applicant’s name You do not need to forward a hard copy of your application if paying electronically |
* This is the name of the person paying the application fee. This person will be invoiced for any subsequent fees and costs. Payment by credit card is not available for this application process.