Financial Markets Conduct (Fees) Amendment Regulations 2017
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2017/139
Financial Markets Conduct (Fees) Amendment Regulations 2017
Patsy Reddy, Governor-General
Order in Council
At Wellington this 26th day of June 2017
Present:
Her Excellency the Governor-General in Council
These regulations are made under section 67 of the Financial Markets Authority Act 2011 and section 548(1)(o) of the Financial Markets Conduct Act 2013—
(a)
on the advice and with the consent of the Executive Council; and
(b)
on the recommendation of the Minister of Commerce and Consumer Affairs made in accordance with section 549 of the Financial Markets Conduct Act 2013.
Regulations
1 Title
These regulations are the Financial Markets Conduct (Fees) Amendment Regulations 2017.
2 Commencement
These regulations come into force on 1 July 2017.
3 Principal regulations
These regulations amend the Financial Markets Conduct (Fees) Regulations 2014 (the principal regulations).
4 Regulation 7 revoked (Fees payable to FMA to be collected by Registrar)
Revoke regulation 7.
5 Schedule 3 amended
In Schedule 3, replace the table with the table set out in the Schedule of these regulations.
Schedule Schedule 3 amended
| Description of fee | Time when payable | Provision of Act | Provision of Regulations | Amount of fees | ||||
|---|---|---|---|---|---|---|---|---|
| Offer document registration fee | Payable on the lodgement of a product disclosure statement (PDS) for a managed fund | s 48(1)(b) | $600 per fund covered by the PDS | |||||
| Payable on the lodgement of a PDS for a financial product (other than a managed investment product in a managed fund) | s 48(1)(b) | $2,700 | ||||||
| Payable on the lodgement of a limited disclosure document for a managed fund | Schedule 1, cl 26(3) | Schedule 8 | $600 per fund covered by the limited disclosure document | |||||
| Payable on the lodgement of a limited disclosure document for a financial product (other than a managed investment product in a managed fund) | Schedule 1, cl 26(3) | Schedule 8 | $2,700 | |||||
| Confirmation fee | Payable on the lodgement of a confirmation notice for managed investment products in a managed fund | s 97 | rr 52 to 52B | $600 per fund covered by the confirmation notice | ||||
| Payable on the lodgement of a confirmation notice for financial products (other than managed investment products in a managed fund) | s 97 | rr 52 to 52B | $2,700 per PDS covered by the confirmation notice | |||||
| Managed investment scheme annual report fee | Payable on the lodgement of an annual report | s 97 | r 62 | $275 | ||||
| Managed investment scheme registration fee | Payable on an application for registration of a managed investment scheme | s 126 | $775 | |||||
| Payable on the lodgement of a governing document for a managed investment scheme | Schedule 4, cl 22(1)(b) | $775 | ||||||
| Financial statements fee | Payable on the lodgement of financial statements (or group financial statements) and an auditor’s report | s 461H | $201.25 |
Michael Webster,
Clerk of the Executive Council.
Explanatory note
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 July 2017, amend the Financial Markets Conduct (Fees) Regulations 2014.
The regulations reduce the fee paid by reporting entities lodging financial statements under section 461H of the Financial Markets Conduct Act 2013 (the Act) from $255.55 to $201.25. However, from 1 July 2017, those reporting entities must also pay a levy of $55.20 in respect of the lodging of financial statements under section 461H of the Act (see the Financial Markets Authority (Levies) Amendment Regulations 2017).
Regulatory impact statement
The Ministry of Business, Innovation, and Employment produced a regulatory impact statement on 6 October 2016 to help inform the decisions taken by the Government relating to the contents of this instrument.
A copy of this regulatory impact statement can be found at—
Date of notification in Gazette: 29 June 2017.
These regulations are administered by the Ministry of Business, Innovation, and Employment.
Versions
Financial Markets Conduct (Fees) Amendment Regulations 2017
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