1. Compliance
  2. Fund managers
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Who needs to comply

Under the FMC Act the manager of a registered managed investment scheme (MIS), other than a restricted scheme, must be licensed.  See our transition information sheets for MIS managers which provide an outline of the transition timeline and examples of the key activities and indicative timings for each step.  Also see this section for transition information for Unit Trusts, Superannuation, KiwiSaver and other types of managed investment schemes.

FAQs

Find answers to your questions about managed investment scheme topics.

Calendar

See upcoming events and key dates.

Licensing

Many financial market professionals require a licence in order to do business. As a fund manager, find out how to apply for a licence here.

Licenced managed investment scheme managers

See the current list of businesses who hold a licence to provide a managed investment scheme.

Your obligations

Guidance

See all our guidance specifically for managed investment schemes here.

DIMS - all you need to know

 

Financial advice

Putting investor interests first is at the heart of raising the standards of how financial advice is conducted.

Offer information 

Depending on whether you choose to adopt the requirements under the Financial Markets Conduct Act 2013 (FMC Act), or continue to make an offer under the transitional provisions of the Securities Act regime, will determine how you present your offer and what your on-going obligations are.

KiwiSaver

KiwiSaver is a priority focus for FMA. Participants involved in KiwiSaver management, distribution and oversight must meet regulatory standards and act with customers’ best interests in mind. See what your obligations are here.

Superannuation

The FMA is responsible for the administration, compliance monitoring and enforcement of the Superannuation Schemes Act 1989.  Find out more about who needs to comply and your obligations here.

Governance

Part 4 of the FMC Act resets the accountability framework for managed investment schemes and debt securities. It imposes statutory duties of care on licensed supervisors and on managers of managed investments schemes. 

Financial reporting

Under the Financial Markets Conduct Act 2013 there are financial reporting obligations for FMC reporting entities.

Exemptions

Find out more about exemptions for fund managers, current notices and how to apply for one.

Fair dealing

Read how the FMC Act provides for fair dealing in relation to financial products and services and sets out minimum compliance standards of behaviour for people operating in the financial markets.

AML/CFT and you

The Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) 2009 and its Regulations place obligations on New Zealand’s financial institutions to detect and deter money laundering and terrorism financing. Find out how it affects you.

Fees and levies

Applicants must pay a fee when they either apply for a new licence for financial market services or apply to vary an existing licence. The relevant fees are set by the Ministry of Business, Innovation and Employment and outlined in the Financial Markets Conduct (Fees) Regulations 2014. Review the full list of fees.

 

Latest News

Fraud and its far reaching effects hit the big screen

20 September 2016

The inaugural New Zealand International Fraud Film Festival (Fraud Film Festival) is coming to Auckland’s Q Theatre in November. The festival is timed to coincide with November’s Fraud Awareness Week and will open on Friday, 18 November.

 

Latest Consultations

Consultation paper: KiwiSaver advice

8 November 2016

We are seeking feedback on our KiwiSaver advice guidance note.

This guidance note is for providers advising on KiwiSaver products and will replace our 2012 Guidance Note: Sale and Distribution of KiwiSaver. We are replacing this guidance to recognise feedback that our 2012 approach resulted in some people not getting the help they needed, as firms saw it as risky to provide advice. This revised guidance is intended to change that situation, by encouraging advisers and financial firms to help people make good decisions about KiwiSaver.