Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698843501275.pdf (New Zealand)
Reprint as at 1 August 2014 Financial Markets Conduct (Fees) Regulations 2014 (LI 2014/110) Jerry Mateparae, Governor-General Order in Council At Wellington this 24th day of March 2014 Present: His Excellency the Governor-General in Council Pursuant to section 67 of the Financial Markets Authority Act 2011 and sections 548(1)(o) and 552 of the Financial Markets Conduct Act 2013, His Excellency the Governor-General makes the following regulations, acting— (a) on the advice and with the consent of the Executive Council; and on the recommendation of the Minister of Commerce made in accordance with section 549 of the Financial Markets Conduct Act 2013.
(b) Note Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

These regulations are administered by the Ministry of Business, Innovation, and Employment.
1 r 1 Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 August 2014 (1) Contents Title Commencement Interpretation Fees and costs payable Payment of fees and costs Multiple application discount Fees inclusive of GST Schedule Fees and costs Regulations Page 2 2 2 3 3 3 4 5 Title These regulations are the Financial Markets Conduct (Fees) Regulations 2014.

Commencement These regulations come into force on 1 April 2014.
Interpretation In these regulations, unless the context otherwise requires,— Act means the Financial Markets Conduct Act 2013 application means an application referred to in Part 1 and ap- plicant means the person who makes that application crowd funding service has the same meaning as in regulation 16 of the Financial Markets Conduct (Phase 1) Regulations 2014 peer-to-peer lending service has the same meaning as in regulation 16 of the Financial Markets Conduct (Phase 1) Regulations 2014 vary, in relation to the conditions of a licence, means to vary, revoke, add to, or substitute any of those conditions.
(2) A reference in these regulations to a Part is a reference to a Part of the Schedule of these regulations.

2 Reprinted as at 1 August 2014 Financial Markets Conduct (Fees) Regulations 2014 r 6 4 5 (1) (2) 6 (1) (2) (3) (4) (5) Fees and costs payable The fees and costs set out in the Schedule are payable in re- spect of the matters set out in that schedule.
are payable by the applicant to the FMA; and Payment of fees and costs The fees in Part 1 (except those that are payable on the hourly basis specified in Part 2)— (a) (b) must accompany the application.

The fees in Part 1 that are payable on the hourly basis specified in Part 2 and the costs specified in Part 3 are— payable by the applicant to the FMA; and (a) payable on an invoice issued by or on behalf of the FMA (b) and within the time frame specified in that invoice.
Multiple application discount The purpose of this regulation is to ensure that a reduced fee applies to applications where there are lower costs for the FMA because the information in the application is being, or has recently been, assessed as part of another licence applica- tion.
This regulation applies if a person applies to be licensed for a market service at the same time as, or within 6 months after the date of, applying to be licensed for another market service (whether under the same or a different market services licence and whether under section 395 or, by way of an application to vary the conditions of a licence, under section 404 of the Act).
The FMA must apply a multiple application discount to the fee payable in respect of each additional market service to which the application or applications relate.

The amount of the multiple application discount may differ ac- cording to the type of market service or combination of market services to which the application or applications relate.
For the purpose of applying the multiple application discount, the FMA is authorised to waive or refund, in respect of any person or class of persons, part of a fee that would otherwise be payable under these regulations.

3 Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 August 2014 Fees inclusive of GST The fees prescribed by these regulations are inclusive of goods and services tax.
r 7 7 4 Reprinted as at 1 August 2014 Financial Markets Conduct (Fees) Regulations 2014 Schedule Fees and costs Part 1 Schedule of fees Schedule r 4 Application in respect of which fee payable 1 Application under section 395 of the Act for a market services licence to cover*— • acting as a manager of a registered scheme • acting as a provider of a discretionary investment management service • acting as an independent trustee of a restricted scheme • acting as a derivatives issuer in respect of a regulated offer of derivatives that is made by the derivatives issuer • acting as a provider of a crowd funding service • acting as a provider of a peer-to-peer lending service Application under section 404 of the Act to vary 1 or more conditions of a market services licence (except if the application is to vary 1 or more conditions of a market services licence so that the licence covers 1 or more types of market service in addition to the 1 or more types of market service already covered) Application under section 404 of the Act to vary 1 or more conditions of a market services licence so that the licence covers 1 or more types of market service in addition to the 1 or more types of market service that it already covers 2 3 Fee (exclusive of any costs payable under Part 3)** $3,565 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 25 $2,139 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 15 $2,139 plus fee charged on the hourly basis specified in Part 2 for hours
 exceeding 15 $10,695 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 70 $6,238.75 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 40 $6,238.75 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 40 $115 plus fee charged on the hourly basis specified in Part 2 In respect of each additional type of market service, the same fee (including the fee charged on an hourly basis) as is payable under this Part for an application under
 section 395 of the Act for a market services licence to cover that type of market service 5 Schedule Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 August 2014 Part 1—continued Application for an exemption under section 556 of the Act Application in respect of which fee payable 4 Fee (exclusive of any costs payable under Part 3)** $115 plus fee charged on the hourly basis specified in Part 2 *Each fee specified for an application for a licence to cover a type of market service applies regardless of whether the application is for 1 market services licence for each type of market service or 1 or more market services licences that cover more than 1 type of market service.
**The specified number of hours, in each case where this appears, refers to total hours of work carried out by members and employees of the FMA.
Part 2 Fees charged on an hourly basis Where Part 1 refers to a fee charged on the hourly basis specified in this Part for hours exceeding a specified number, that fee— (a) is only payable if the FMA has notified the applicant, in writ- ing, that the fee will or may be payable and given the rea- sons why the number of hours spent on the application has exceeded, or is likely to exceed, the specified number; and is only payable for hours or part-hours of work (in excess of the specified number) carried out in respect of the application by the persons referred to in the table of hourly rates; and (b) (c) must be determined as follows for each hour or, on a propor- tional basis, part-hour (in excess of the specified number) of such work carried out after the FMA has notified the applicant in accordance with paragraph (a): 6 Reprinted as at 1 August 2014 Financial Markets Conduct (Fees) Regulations 2014 Part 2—continued Table of hourly rates Category (i) (ii) For each hour of work carried out by a member of the FMA For each hour of work carried out by an employee of the FMA who is qualified in accountancy, auditing, business, commerce, economics, or law Fee $230.00 $178.25 (iii) For each hour of work carried out by an $178.25 employee of the FMA who the FMA is satisfied has a professional level of skills, training, or experience in financial markets matters of the kind to which the application relates Where Part 1 specifies a fee charged on the hourly basis specified in this Part (not limited to hours exceeding a specified number), that fee must be determined in accordance with the table of hourly rates for each hour or, on a proportional basis, part-hour of work carried out in respect of the application by the persons referred to in that table.
Part 3 Costs incurred by the FMA The FMA is authorised to require payment of costs incurred by the FMA in relation to an application referred to in Part 1 in— (a) (b) obtaining expert advice or assistance: printing and publishing in connection with the application, in- cluding in publishing notices in the Gazette.

Schedule: amended, on 1 August 2014, by regulation 4 of the Financial Markets Con- duct (Fees) Amendment Regulations 2014 (LI 2014/250).

Michael Webster, Clerk of the Executive Council.


Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 27 March 2014.

7 Notes Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 August 2014 Reprints notes General This is a reprint of the Financial Markets Conduct (Fees) Regulations 2014 that incorporates all the amendments to those regulations as at the date of the last amendment to them.
Legal status Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment.

Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act.

A printed version of the reprint produced directly from this official electronic version also has official status.
Editorial and format changes Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012.

See also http://www.pco.parliament.govt.nz/editorial-conven- tions/.

Amendments incorporated in this reprint Financial Markets Conduct (Fees) Amendment Regulations 2014 (LI 2014/250) Wellington, New Zealand: Published under the authority of the New Zealand Government—2014 1 2 3 4 12 8