This is a how to for registered companies and other entities to apply for their transitional licence. The following information was kindly provided to us by the Companies Office.
To begin, indicate your intention on the FSPR to apply for a transitional licence, to do so you will need:
- a RealMe login, and
- an online services account with the FSPR.
- Additionally, you may also need to confirm your authority to update information if you are managing an FSP on its behalf.
Updating an existing registration on the FSPR
- Log in to your online services account. You’ll be taken to your dashboard. Select ‘Search for an FSP’ under the ‘Do It Now’ menu.
- Search for your company or entity either by its name or FSP number.
- Select the relevant FSP company or entity from the search results list.
- Once you have selected which FSP to update, open the ‘My Tools’ menu and select ‘Change Request to FSP (NZ Entity)’.
- You’ll be taken to the change request screen. From here you can either:
- select the ‘financial services’ tab at the top of the screen
- or scroll down the page to the financial services list, select ‘Show’ and select ‘Change details’.
- On the next screen you’ll see a list of all the financial services. The transitional licensing services are listed at the bottom, under the heading ‘Financial Advice Service’.
You have the option to select the services:
- ‘Licensed Provider - transitional licence’
- ‘Authorised Body - transitional licence’.
An authorised body (in relation to the financial advice service) is an entity named on another entity’s financial advice provider’s licence to provide a licensed service. Authorised bodies are still considered to be financial advice providers, but do not hold their own licence. If you are intending for your company to operate as an authorised body, you must tick the grey box ‘Authorised Body – transitional licence’.
If you are intending for your company to hold a transitional licence, you must tick the grey box ‘Licensed Provider –transitional licence’.
- Once you’ve selected the relevant transitional licence(s), you can either go straight to the ‘Review’ tab to complete your update, or you can review the rest of your registration by scrolling down to the bottom of the screen and selecting the 'Proceed to directors' button.
- On the ‘Directors’ screen, you can check the information about the directors that you have already listed. If you are satisfied that the details are correct, or if you don’t need to add another director, select ‘Proceed to controlling owners’.
- On the ‘Controlling owners’ screen you can check the information about controlling owners, if you have any listed, or add new ones. If you are satisfied that the details are correct, or if you don’t need to add a controlling owner, select ‘Proceed to senior managers’.
- On the ‘Senior Managers’ screen you can check the information about senior managers, if you have any listed, or add new ones. Once you are happy with the information, or if you don’t want to add a controlling owner, select ‘Proceed to review’.
- At this point you have an opportunity to review your details and check that the ‘Transitional Licensing Service’ you selected is visible. To complete the update to your FSP registration, select ‘Read and confirm the declaration here’.
- Confirm and click ‘Continue’.
- You’ll see an onscreen pop-up confirming your changes have been submitted. From here, click the link to go back to your dashboard, where you’ll see your application is ‘awaiting authorisation’.
- You will be sent you an email confirming that you have updated your FSP registration. If you login to your dashboard, your will see ‘Awaiting LA authorisation’ next to your registration. This will remain until the licence comes into effect.
Once you’ve received confirmation and selected the service ‘Licensed Provider - transitional licence’, you’ll need to visit the FMA website and apply for your licence.
You’ll need the FSP number of the company that you just registered on the FSPR. You can apply for your licence by clicking here.
Once you’ve received confirmation and selected the service ‘Authorised Body - transitional licence’, you’ll need to provide your company’s FSP number to the financial advice provider whose licence you will operate under. They’ll need this when naming you on their licence application to the FMA. You DO NOT need to apply to the FMA for a licence.