Time-frame for FAP Licence Applications welcomed by FSC


Richard Klipin, CEO of the FSC, says the FMA has provided a clear roadmap for financial advisers having set the date for transitional licence holders to apply for a full FAP licence.

The FMA has set 30 September 2022 as the date by when all transitional financial advice providers should apply for their Class 1 or Class 2 full licences. For Class 3 licence applicants, the date is 30 June 2022.

Klipin says: “The FMA has provided a clear roadmap for full licence applications, and the target dates will be useful for advisers to work towards to ensure their application is processed before transitional licences expire in March 2023.

“We acknowledge this has been a period of significant change for the sector, and businesses are managing a vast range of priorities at the moment.

“The FSC has a huge amount of resources and expertise that we strongly encourage members to draw upon.”

See How to apply for a full licence on the FMA website.