The Vanuatu Financial Services Commission issued a public notice confirming that the Financial Dealers Licensing Act amendments are in force from 4 December 2024, tightening how Financial Dealers Licensing (FDL) classes can be held and increasing licence renewal fees. The changes set a progression model for Class B, C and D principal licences and introduce higher annual fees and late-payment penalties, alongside transition arrangements for existing licensees. Under the amended framework, a Class D principal licence may only be issued to holders of Class A, B and C principal licences, a Class C principal licence only to holders of Class A and B, and a Class B principal licence only to holders of a Class A principal licence. The amended fee schedule sets an annual licence fee of VUV 500,000 for licensees and also requires a licensed manager to pay an annual licence fee of VUV 500,000 by the date specified in the licence, with non-payment attracting a penalty of 10% of the licence fee per month up to a maximum of 50%; the notice also indicates renewal fees are to be paid on or before the date of grant of the licences and that the VUV 500,000 renewal fee applies separately to principal and representative licences. Fees for new applicants are unchanged at VUV 100,000 for a principal licence and VUV 100,000 for a representative licence, and application fees remain VUV 50,000 for each. The VFSC set a transition period until 1 April 2025 for existing licensees to apply for any remaining required licence classes and to pay the new renewal fees, citing the 17 December 2024 earthquake. Licensees whose renewal fees fell due after 4 December 2024 and have already paid are given until 1 April 2025 to settle any difference, and applications for the remaining classes must reach the VFSC by 1 April 2025.

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