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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products - Issue of licence

315: Application for licence

You could also call this:

"How to apply for a licence to run a financial market"

Illustration for Financial Markets Conduct Act 2013

If you want to run a financial product market, you can apply for a licence. You need to apply in the way that the Financial Markets Authority (FMA) says you must. When you apply, you have to give the FMA or the Minister the information they need to decide on your application, such as your draft market rules.

The FMA will look at your application and then give it to the Minister with their advice. The FMA must do this within a reasonable time. You have to follow the FMA's rules when you apply for a licence to operate a financial product market.

You are applying to the FMA or the Minister when you want a licence to run a financial product market, and they will use the information you give them to make a decision about your application.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091465.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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314: General obligations in respect of licensed markets, or

"Rules for running a fair and honest market in New Zealand"

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316: When licence may be issued, or

"When the Minister can give you a licence to run a financial market"

Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Issue of licence

315Application for licence

  1. A person may apply for a licence to operate a financial product market in the manner that is specified by the FMA.

  2. The applicant must provide to the FMA or the Minister the information that is required by the FMA or the Minister to assist in determining the application (for example, the draft market rules).

  3. The FMA must, within a reasonable time, give the application to the Minister with advice about the application.