Crowdfunding offers companies a way of raising up to $2 million in any 12 month period with simpler compliance obligations. There are obligations on both the companies issuing shares and on the crowd funding service provider.
Crowdfunding is a type of financial market service covered by the FMC Act. Find out more about becoming a crowdfunding service provider, including details on licencing.
Licensed crowdfunding service providers have to meet and maintain certain minimum standards. Find out what these are.
If you want to set up a crowdfunding service so you can act as an intermediary between companies issuing shares and investors, you will need to apply for a crowdfunding licence.
The FMA issues licences to provide crowdfunding services. See the current list of businesses who hold a licence.
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.
Under the FMC Act there are financial reporting obligations for FMC reporting entities.
Every licensed crowdfunding service provider is required to complete and submit a regulatory return annually. The return is a series of questions and licensees will need to submit their first return to us by 31 August 2017. Details about how to submit the return will provided closer to the time.
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.
Find out more about exemptions we grant, current notices and how to apply for one.
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.
20 February 2017
Media release MR No. 2017 – 05 20 February 2017 The Conduct Outcomes Report 2016 highlights the key issues and actions from the FMA’s enforcement, supervision and preventative activities for the financial year July 2015 to June 2016. Previously published as the Investigations and Enforcement Report, this report shows how the FMA has made use of the broad range of conduct regulation powers available under the Financial Markets Conduct Act 2013. Key ac...
15 February 2017
Media Release MR No. 2017 – 04 15 February 2017 Today the Financial Markets Authority published its updated Strategic Risk Outlook (SRO). This is a foundation FMA document and sets out how the regulator identifies and prioritises the key risks to its overall objective of fair, efficient and transparent markets. In 2014, the FMA established seven strategic priorities to address the main risks and potential harms to financial markets. Those priorities an...
8 February 2017
Media Release MR No. 2017 – 02 8 February 2017 The Financial Markets Authority (FMA) has issued a formal warning to 12 reporting entities under section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (the Act). Under section 59(2) of the Act, the FMA required reporting entities to submit their audit of their Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) risk assessment and AML/CFT programme by 25 Nove...
8 March 2017
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.