Transitional licensing delayed
The Ministry of Business, Innovation and Employment has pushed back the start date for financial advice provider (FAP) transitional licensing from November 4 to November 25.
It said because new regulations for the regime, setting out the FMA levies and licence fees to be charged, would take effect on November 25, licensing would coincide with that.
"You will have more than six months to apply, but we recommend you apply early to ensure you have your licence in time for the start of the new financial advice regime on June 29, 2020."
MBIE says in a statement that a number of regulations relating to the new regime were published today. These regulations give effect to previous policy decisions announced in June this year, and:
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