FMA says those with licences unlikely to have to undergo another licencing process
Speaking at Financial Advice New Zealand’s Thrive Conference, Samantha Barrass, chief executive at the Financial Markets Authority (FMA), has said it is unlikely that those already holding licences will have to undergo another licencing process. Barrass said last year’s push for financial advisers to achieve their Level 5 before the deadline was “the most successful transition I've witnessed in my career” and “a world-beater.”
Speaking earlier at the conference, Commerce Minister Andrew Bayly had said he was aware some organisations held multiple licences and he was looking at whether it could be streamlined into a single licence as part of the government’s drive to simplify regulation of the financial services industry.
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