Financial Markets Conduct (Fees) Regulations 2014

Schedule 1 Application fees and costs payable to FMA

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

Part 1 Schedule of fees

Application in respect of which fee payableFee (exclusive of any costs payable under Part 3)**
1Application under section 395 of the Act for a market services licence to cover*—
• acting as a manager of a registered scheme$3,565 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 25
• acting as a provider of a discretionary investment management service$2,139 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 15
• acting as an independent trustee of a restricted scheme$2,139 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 15
• acting as a derivatives issuer in respect of a regulated offer of derivatives that is made by the derivatives issuer$10,695 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 70
• acting as a provider of a crowd funding service$6,238.75 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 40
• acting as a provider of a peer-to-peer lending service$6,238.75 plus fee charged on the hourly basis specified in Part 2 for hours exceeding 40
2Application 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)$115 plus fee charged on the hourly basis specified in Part 2
3Application 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 coversIn 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
4Application for an exemption under section 556 of the Act$115 plus fee charged on the hourly basis specified in Part 2
4AApplication for a declaration under section 562 of the Act$115 plus fee charged on the hourly basis specified in Part 2
5Application under section 315 of the Act for a licence to operate a financial product marketOn the hourly basis specified in Part 2
6Application under section 322 of the Act to vary the conditions of a licence to operate a financial product marketOn the hourly basis specified in Part 2
7Application under section 330 of the Act for approval of a market rule or market rule changeOn 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 Conduct (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 Conduct (Fees) Amendment Regulations (No 2) 2014 (LI 2014/327).

CategoryFee
For each hour of work carried out by a member of the FMA$230.00
For each hour of work carried out by an employee of the FMA who is qualified in accountancy, auditing, business, commerce, economics, or law$178.25
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$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—

(a)

obtaining expert advice or assistance:

(b)

printing and publishing in connection with the application, including in publishing notices in the Gazette.