1. Compliance
  2. Exemptions
  3. Exemption categories

Exemption categories

 

Specific exemption information relating to particular topics, people or businesses.

AML/CFT

The Anti-Money Laundering and Countering Financing of Terrorism Act provides for 2 types of exemptions - regulatory exemptions and ministerial exemptions.

The Minister of Justice (MoJ)may grant a ministerial exemption from any or all provisions of the Act. Exemptions may be granted for businesses, transactions, products, services or customers and may be subject to conditions.

The MoJ is now inviting applications for ministerial exemptions under the Act. For further information and a copy of the ministerial exemption policy visit the Ministry of Justice website.

The Anti-Money Laundering and Countering Financing of Terrorism (Ministerial Exemption Form) Regulations 2011 prescribe the form in which the Minister must make ministerial exemptions.

Brokers and custodians

In certain circumstances you may be able to obtain an exemption from compliance with broker and/or custodian obligations under the Financial Advisers Act 2008, the Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014, the Financial Markets Conduct Act 2013 and the Financial Markets Conduct Regulations 2014.  You must meet the prescribed statutory criteria in order for FMA to consider your application for an exemption.

 

Financial advisers - including overseas advisers

In certain circumstances it may be possible to obtain an exemption from being registered as a financial adviser or from any of the obligations under the Financial Advisers Act 2008, regulations or the Code of Conduct.  This includes overseas advisers.

Financial reporting

We have regulatory powers to grant financial reporting exemptions and vary financial reporting public accountability designations.

Offers under the FMC Act

The FMC Act offer regime is simpler and more efficient than the previous Securities Act regime. However, in some cases businesses may encounter difficulties offering financial products under the FMC Act regime. In some circumstances exemptive relief from a regulatory or disclosure requirement may be appropriate.

Offers under the Securities Act

30 November 2016 marked the end of the transitional period for businesses to transfer their operations to the FMC Act regime.  From 1 December 2016 there is no longer any ability for any businesses to operate, including to offer products under the Securities Act regime.  Any remaining Securities Act exemptions, that have not been explicitly revoked are now redundant and are of no effect.