1. Compliance
  2. Fees and levies

Fees and levies

This page outlines fees payable when making an application to the FMA for certain licences, authorisations, and registrations. All amounts are in New Zealand dollars and include GST. Unless otherwise stated, all fees on this page are payable to the FMA. The regulations are administered by the Ministry of Business, Innovation and Employment (MBIE).

The FMA does not licence all financial market participants, and other fees may apply. For example, entities and individuals registering as a financial service provider (FSP) must also pay fees to the Companies Office when submitting their FSP application, and on annual confirmation. Fees are also payable to the Companies Office for specified services on the Disclose Register  Please note that in addition to applicable fees, levies may also be payable. Find out more about levies here.

FMA hourly rate

Where this page refers to the FMA hourly rate, this is:

  • $230 per hour spent by FMA board members
  • $178.25 per hour spent by FMA staff.

Licence applications

Where fees relate to applications for licences administered by the FMA, refer to our guidance on licences for more information on how to apply and how to pay the relevant application fee. We will not issue a new or varied licence until the fee is paid in full. Licence fees are not refundable if an application is rejected.

 

Financial market services (FMC Act licence applications)

Licence applications

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.

Variations to existing licences

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.

Reduced fees for multiple applications

There is a reduced fee if you apply to:

  • be licensed for another market service, and/or
  • vary an existing licence to add a new type of market service,

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.  

Authorised Financial Advisers (AFAs) and Qualifying Financial Entities (QFEs)

AFA and QFE applications

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.

Variations to terms and conditions

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.

Auditors

Application fees

Overseas auditors and audit firms

  • $115 application fee
  • $350 registration fee (passed on to the Registrar of Companies)

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.

Quality review fee

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.

Market operators

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.

Registered superannuation schemes

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.

Supervisors

Supervisor applications

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.

Other fees