Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698841683503.pdf (New Zealand)
Reprint as at 1 July 2017 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— 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.
Contents Title Commencement Interpretation Application fees and costs Payment of application fees and costs Page 2 2 2 2 3 (a) (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 (1) Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 July 2017 Multiple application discount Fees payable to FMA to be collected by Registrar [Revoked] Other fees payable to FMA Fees and charges payable to Registrar Fees and charges inclusive of GST Schedule 1 Application fees and costs payable to FMA Schedule 2 Other fees payable to FMA Schedule 3 Registry fees Regulations 3 4 4 4 4 5 7 9 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 crowd funding service has the same meaning as in regulation 185 of the Fi- nancial Markets Conduct Regulations 2014 peer-to-peer lending service has the same meaning as in regulation 185 of the Financial Markets Conduct Regulations 2014 vary, in relation to the conditions of a licence, means to vary, revoke, add to, or substitute any of those conditions.
(2) For the purposes of these regulations, individuals working for the FMA as con- tractors or secondees must be treated as if they are employees of the FMA.

Regulation 3: replaced, on 1 December 2014, by regulation 4 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).

Regulation 3(2): inserted, on 17 December 2015, by regulation 4 of the Financial Markets Conduct (Fees) Amendment Regulations 2015 (LI 2015/279).
Application fees and costs The fees and costs set out in Schedule 1 are payable to the FMA by an appli- cant in respect of the matters set out in that schedule.
If Part 1 of Schedule 1 specifies that a fee is to be charged on an hourly basis, the fee— 4 (1) (2) 2 Reprinted as at 1 July 2017 Financial Markets Conduct (Fees) Regulations 2014 r 6 (a) must be determined in accordance with the table of hourly rates set out in Part 2 of Schedule 1; and (b) is payable for every hour and, on a pro rata basis, for every part-hour of work that is carried out.
(3) If Part 1 of Schedule 1 specifies that a fee is to be charged on an hourly basis for hours exceeding a specified number, the hourly fee— (a) must be determined in accordance with the table of hourly rates set out in Part 2 of Schedule 1; and (b) is payable for every hour and, on a pro rata basis, for every part-hour of work that is carried out in excess of the specified number; but (c) is payable only if the FMA has— (i) (ii) notified the applicant, in writing, that the hourly fee will or may be payable; and given the reasons why the number of hours spent on the applica- tion has exceeded, or is likely to exceed, the specified number.
Regulation 4: replaced, on 1 December 2014, by regulation 4 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).

5 (1) Payment of application fees and costs The fees in Part 1 of Schedule 1, other than those payable on an hourly basis, must accompany the relevant application.

(2) All other fees and costs in Schedule 1 are payable— (a) on the issue of an invoice by or on behalf of the FMA; and (b) within the time frame specified in the invoice.
Regulation 5: replaced, on 1 December 2014, by regulation 4 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).

6 (1) (2) (3) Multiple application discount The purpose of this regulation is to ensure that a reduced fee applies to applica- tions 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 application.
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 ser- vices 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 re- spect of each additional market service to which the application or applications relate.

3 r 7 (4) (5) Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 July 2017 The amount of the multiple application discount may differ according to the type of market service or combination of market services to which the applica- tion 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.

7 Fees payable to FMA to be collected by Registrar [Revoked] Regulation 7: revoked, on 1 July 2017, by regulation 4 of the Financial Markets Conduct (Fees) Amendment Regulations 2017 (LI 2017/139).
8 (1) (2) Other fees payable to FMA The fees set out in Schedule 2 are payable to the FMA for the work carried out, by FMA members and employees in performing functions and providing ser- vices, in relation to the matters set out in that schedule.

If Schedule 2 specifies that a fee is to be charged on an hourly basis, the fee is payable for every hour and, on a pro rata basis, for every part-hour of work that is carried out.
(3) The fees in Schedule 2 that are charged on an hourly basis are payable— (a) on the issue of an invoice by or on behalf of the FMA; and (b) within the time frame specified in the invoice.

(4) All other fees in Schedule 2 must accompany the relevant documents or re- quest.

Regulation 8: inserted, on 1 December 2014, by regulation 5 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
9 (1) Fees and charges payable to Registrar The fees and charges in Schedule 3 are payable in respect of the matters set out in that schedule.

(2) The fees and charges are payable— (a) (b) (c) to the Registrar: at the times prescribed in Schedule 3: by the persons who lodge the relevant documents.

Regulation 9: inserted, on 1 December 2014, by regulation 5 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
10 Fees and charges inclusive of GST The fees and charges prescribed by these regulations are inclusive of goods and services tax.

Regulation 10: inserted, on 1 December 2014, by regulation 5 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
4 Reprinted as at 1 July 2017 Financial Markets Conduct (Fees) Regulations 2014 Schedule 1 Schedule 1 Application fees and costs payable to FMA Schedule 1 heading: replaced, on 1 December 2014, by regulation 6(1) of the Financial Markets Con- duct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
r 4 Part 1 Schedule of fees 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 Application for an exemption under section 556 of the Act Application for a declaration under section 562 of the Act Application under section 315 of the Act for a licence to operate a financial product market Application under section 322 of the Act to vary the conditions of a licence to operate a financial product market 2 3 4 4A 5 6 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 $115 plus fee charged on the hourly basis specified in Part 2 $115 plus fee charged on the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 5 Schedule 1 Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 July 2017 Application in respect of which fee payable 7 Application under section 330 of the Act for approval of a market rule or market rule change Fee (exclusive of any costs payable under Part 3)** 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.

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

Schedule 1 Part 1 item 4A: inserted, on 17 December 2015, by regulation 5 of the Financial Markets Conduct (Fees) Amendment Regulations 2015 (LI 2015/279).
Schedule 1 Part 1 item 5: inserted, on 1 December 2014, by regulation 6(2) of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).

Schedule 1 Part 1 item 6: inserted, on 1 December 2014, by regulation 6(2) of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).

Schedule 1 Part 1 item 7: inserted, on 1 December 2014, by regulation 6(2) of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
Part 2 Fees charged on an hourly basis Schedule 1 Part 2: replaced, on 1 December 2014, by regulation 6(3) of the Financial Markets Con- duct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
Category 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 For each hour of work carried out by an 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 Fee $230.00 $178.25 $178.25 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— obtaining expert advice or assistance: printing and publishing in connection with the application, including in pub- lishing notices in the Gazette.
(a) (b) 6 Reprinted as at 1 July 2017 Financial Markets Conduct (Fees) Regulations 2014 Schedule 2 Schedule 2 Other fees payable to FMA Schedule 2: inserted, on 1 December 2014, by regulation 7 of the Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).
r 8 Part 1 Schedule of fees Section of the Act 109 122(2)(b) Description Request for consent to amend or replace trust deed Request for consent to remove supervisor 126(2)(e)(iii) Request for certificate of compliance 131(1)(c) 134(1)(b) 134(3) 139(1)(a) 140(1)(a) 171(1) 179(3) 181(1) 186(4)(c) 190(2)(a) 193(2)(b) 195(1)(c) 213(1)(b) 213(2) Request for consent to change the conditions of entry or the way in which conditions of entry are applied Request to direct the removal of the registration of a registered scheme as a particular type of scheme Request to direct the registration of a scheme as a particular type of scheme Request for consent to amend or replace governing document Request for consent to amend or replace governing document Request for consent to allow scheme property to revert to contributor who is not a participant Request for permission to transfer scheme participant without participant’s consent Request for consent to transfer scheme participants to another scheme Request to appoint temporary manager Request for consent to withhold information or retain copy of information Request for consent to remove supervisor Request to direct that registration of a registered scheme be cancelled Review of financial statements on winding up Request to extend period for compliance 224(2)(b) Request to authorise non-compliance 596 Request to approve a scheme as a Schedule 3 scheme Fees On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On
 the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 $255.55 On the hourly basis
 specified in Part 2 On the hourly basis specified in Part 2 $178.25 7 Schedule 2 Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 July 2017 Section of the Act Sch 4, cl 26(2) Sch 4, cl 27(3)(a) Sch 4, cl 28(3)(a) Description Request for consent to amend or replace governing document Request for consent to rescind existing and execute new governing document Request for consent to rescind existing and execute new governing document Fees On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 On the hourly basis specified in Part 2 Part 2 Fees charged on an hourly basis Category 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 For each hour of work carried out by an 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 request relates Fee $230.00 $178.25 $178.25 8 Reprinted as at 1 July 2017 9 r 3 e l u d e h c S s e e f y r t s i g e R Financial Markets Conduct (Fees) Regulations 2014 Schedule , e v a h d l u o h s r o , s a h d n u f e h t t a h t s n a e m , d n u f a o t n o i t a l e r n i , s u t a t s s r o t s e v n i w e n o t d e s o l c . )
7 2 3 / 4 1 0 2 I L ( 4 1 0 2 ) 2 o N ( s n o i t a l u g e R t n e m d n e m A ) s e e F ( , 4 1 0 2 r e b m e c e D 1 n o , d e t r e s n i : 3 e l u d e h c S — , ) 1 ( ) 1 ( ) 2 ( d n a ) a e ( ) 1 ( 1 5 e s u a l c 4 e l u d e h c S f o ) 2 ( d n a ) a e ( ) 1 ( 1 5 e s u a l c r e d n u s u t a t s n e p o n a , e v a h d l u o h s r o , s a h d n u f e h t t a h t s n a e m , d n u f a o t n o i t a l e r n i , , e v a h d l u o h s r o , s a h S D P e h t t a h t s n a e m , S D P a o t n o i t a l e r n i , s u t a t s s n o i t a c i l p p a r o f n e p o .
— , , - ) a ( : - ) b ( : ) c ( : ) d ( .
n o i t a l u g e r 9 Schedule 3 Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 July 2017 e h t y b d e r e v o c d n u f r e p 0 0 6 $ ) 3 ( 6 2 l c , , 2 $ 8 e l u d e h c S ) 3 ( 6 2 l c , ) ( , 2 $ $ $ s e e f f o t n u o m A 0 0 7 , 2 $ S D P f o n o i s i v o r P s n o i t a l u g e R ) b ( ) 1 ( ( t c u d o r p ) n
) b ( ) 1 ( ) S D P ( 10 e c i t o n n o i t a m r i f n o c 5 7 2 $ 5 7 7 $ 5 7 7 $ 5 2 .
1 0 2 $ ( s t c u d o r p l a i c n a n i f r o f ) , 4 e l u d e h c S ) b ( ) 1 ( ’ r o t i d u a n a d n a ) s t n e m e t a t s l a i c n a n i f p u o r g r o ( ( 5 1 0 2 s n o i t a l u g e R t n e m d n e m A ) s e e F ( t c u d n o C s t e k r a M l a i c n a n i F e h t f o ) 1 ( 6 n o i t a l u g e r y b , 6 1 0 2 e n u J 1 n o , d e t r e s n i : . )
9 7 2 / 5 1 0 2 I L ( 5 1 0 2 s n o i t a l u g e R t n e m d n e m A ) s e e F ( t c u d n o C s t e k r a M l a i c n a n i F e h t f o ) 3 ( 6 n o i t a l u g e r y b , 6 1 0 2 e n u J 1 n o , d e d n e m a : 3 e l u d e h c S . )

9 7 2 / 5 1 0 2 . )
9 7 2 / 5 1 0 2 I L ( 5 1 0 2 s n o i t a l u g e R t n e m d n e m A ) s e e F ( t c u d n o C s t e k r a M l a i c n a n i F e h t f o ) 2 ( 6 n o i t a l u g e r y b , 6 1 0 2 e n u J 1 n o , d e t r e s n i : s u t a t s n e p o 3 e l u d e h c S Reprinted as at 1 July 2017 Financial Markets Conduct (Fees) Regulations 2014 Schedule 3 I L ( 5 1 0 2 s n o i t a l u g e R t n e m d n e m A ) s e e F ( t c u d n o C s t e k r a M l a i c n a n i F e h t f o ) 2 ( 6 n o i t a l u g e r y b , 6 1 0 2 e n u J 1 n o , d e t r e s n i : . )
9 7 2 / 5 1 0 2 . )

9 3 1 / 7 1 0 2 I L ( 7 1 0 2 s n o i t a l u g e R t n e m d n e m A ) s e e F ( , 7 1 0 2 y l u J 1 n o , d e c a l p e r : e l b a t 3 e l u d e h c S 11 Schedule 3 Financial Markets Conduct (Fees) Regulations 2014 Reprinted as at 1 July 2017 Michael Webster, Clerk of the Executive Council.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 27 March 2014.


12 Financial Markets Conduct (Fees) Regulations 2014 Notes Reprinted as at 1 July 2017 Reprints notes 1 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.

2 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 elec- tronic version also has official status.

3 Editorial and format changes Editorial and format changes to reprints are made using the powers under sec- tions 24 to 26 of the Legislation Act 2012.

See also http://www.pco.parlia- ment.govt.nz/editorial-conventions/.
4 Amendments incorporated in this reprint Financial Markets Conduct (Fees) Amendment Regulations 2017 (LI 2017/139) Financial Markets Conduct (Fees) Amendment Regulations 2015 (LI 2015/279) Financial Markets Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327) Financial Markets Conduct (Fees) Amendment Regulations 2014 (LI 2014/250) Wellington, New Zealand: Published under the authority of the New Zealand Government—2017 13