Consultation paper: Proposal for annual declaration of compliance for Financial Markets Conduct Act 2013 licensees

First published 17 November 2015

The Financial Markets Conduct Act 2013 (FMC Act) allows the FMA to add new conditions to market service licences.

We are proposing to add a new standard condition that will require all FMC Act market service licensees to declare to us, on an annual basis, their compliance with each condition of their licence.

We invite you to comment on our proposals.

Submissions closed on Monday 21 December 2015.  All comments should be submitted to [email protected] with the subject line: ‘Proposal for annual declaration of compliance forvFinancial Markets Conduct Act 2013 licensees: [Your entity name]’.  

Update

8 December 2016

Currently we don’t have a definite date of commencement, however, we can confirm that the requirement will not commence this financial year.

Given the responses we received to our initial consultation, we need to consult further on this and will do so in 2017.

We are aware that we will need to give licence holders adequate time to comply with any new requirements and we will make sure that we give as much notice as possible on any new compliance requirements.

If you have any questions about this please contact us.