Discussion paper: Financial institution licensing fees under new conduct regime
Published: 28 Sept 2022A paper that seeks feedback on proposed licensing fees under new conduct regime.
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PDF, 330KB, 17 pages
Consultation on regulations under the Financial Markets (Conduct of Institutions) Amendment Act 2022 – proposed licensing fees
closed
Submissions closed: 26 October 2022, 5pmThe Ministry of Business, Innovation and Employment (MBIE) sought feedback on a discussion paper on proposed regulations under the Financial Markets (Conduct of Institutions) Amendment Act 2022 regarding licensing fees.
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Discussion paper – Regulations under the Financial Markets (Conduct of Institutions) Amendment Act 2022 – proposed licensing fees
The feedback from this consultation informed the levels at which licensing fees are set.
In September 2019, Cabinet agreed that banks, insurers and non-bank deposit takers will be required to be licensed under Part 6 of the Financial Markets Conduct Act 2013 in respect of their conduct in relation to retail customers. The licensing regime will be monitored and enforced by the Financial Markets Authority.
For more information on these licensing fees please refer to the discussion document published below.
MBIE also consulted on proposed regulations regarding sales incentives to support the new regime. You can access that consultation webpage below:
Submission template: Financial institution licensing fees under new conduct regime
Published: 28 Sept 2022A template for providing submissions on proposed licensing fees under new conduct regime.
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DOC, 55KB, 3 pages
Last updated: 10 January 2024