1. Compliance
  2. Exemptions
  3. How to apply

How to apply

What exemptions can I apply for?

You can apply to FMA for an exemption from some specific provisions of:

  • Parts 2 to 7 and any of the schedules of the Financial Markets Conduct Act 2013 (FMC Act) and any regulations made under that Act
  • Part 2 of the Securities Act 1978 and any regulations made under section 70(1) of that Act (to the extent applicable during the transition period)
  • the Financial Reporting Act 1993 (to the extent applicable during the transition period)
  • the Financial Advisers Act 2008 (or the Code of Professional Conduct for Authorised Financial Advisers). This also enables exemptions from the obligation to register for providing financial adviser services or broking services under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

How do I make an application?

You apply for an exemption by emailing your application to us. A hard copy letter identifying your emailed application should also be forwarded to our offices and addressed to 'Exemption Team', together with the cheque for the application fee.

For help and guidance see:

You must also include a draft exemption notice.

How much does it cost?

Exemption fees are set by regulations of the relevant legislation. You need to send a cheque to cover the application fee and an advance fee for fees and costs to be incurred as set out in the table below.  We will charge any additional time spent on an hourly basis as set out in the table.

Exemption application type Application and advance fee (to be sent by cheque with your application) Application fee Hourly rate – FMA Board members Hourly rate – FMA staff
Financial Markets Conduct Act 2013 $1,265 $115 $230 $178.25
Securities Act 1978 $1,265 $115 $230 $178.25
Financial Reporting Act 1993 $1,265 $115 $230 $166.62
Financial Advisers Act 2008 $1,265 $115 $230 $166.62

Please note: all fees are inclusive of GST.

We can also recover the cost of obtaining expert assistance in relation to particular applications.

Applicants must also reimburse us for the costs of notifying the exemption notice in the Gazette, where applicable.

How long does it take?

Individual exemption applications (that is applications relating to a particular person or transaction) generally take 4 to 6 weeks from the time we receive all the information we need. This may take longer if significant questions of policy arise.

Exemption notices come into force as soon as we grant them. You do not need to wait for them to be notified in the Gazette.

If your application is urgent, we will try to accommodate your request.  However, you must provide the timeframes within which the decision is needed and provide reasons for requesting an urgent exemption.

What exemptions won't be granted?

While the law gives us broad powers to exempt certain persons or transactions from compliance with specific provisions of those Acts, we consider that our exemption power only extends to compliance provisions, not to liability provisions.

We are also unlikely to exempt issuers from the general prohibition in the FMC Act against the distribution of deceptive, misleading or confusing advertisements.

Find out more about:

Current exemption notices