The New Zealand Financial Markets Authority (FMA) has closed submissions on its request for feedback on how current standard licensing conditions could be streamlined, alongside planned operational changes to support a proposed move to a single-licence structure for firms providing multiple market services. As part of wider financial service reforms, the Government is proposing legislative changes to require the FMA to issue a single licence to firms approved to provide two or more market services. The FMA is also considering operational changes to reflect that structure, including simplifying supervision and communications with licensees and potentially moving to a single notification form for business changes. A broader work programme will seek to streamline standard conditions, the licence application process and regulatory returns across market services, including standardising applications through the FMA’s online portal and ultimately ending paper-based licence applications. Feedback from licensees and other stakeholders is intended to shape this streamlining work programme.
New Zealand Financial Markets Authority 2025-05-30
New Zealand Financial Markets Authority closes submissions on streamlining standard licence conditions for proposed single-licence regime
The New Zealand Financial Markets Authority has concluded its consultation on streamlining standard licensing conditions and operational changes to support a proposed single-licence structure for firms offering multiple market services. Legislative changes are proposed to require a single licence, with potential operational adjustments including simplified supervision, communications, and a unified notification form for business changes.