FMA to kick off campaign for financial advice providers

The Financial Markets Authority (FMA) will begin its Hit Submit campaign on Aug. 9, targeting financial advice providers (FAPs) who have yet to complete their Class 1 licence application.

The course is composed of six free practical online sessions that will give attendees live hands-on support in completing their FAP full licence application.

The sessions are based on the FMA’s “8 steps to applying for a FAP full licence” action plan, which guides financial advice professionals on what type of licence to apply for and prepares them for the questions that will be asked. The sessions will also provide insights that will help make the Class 1 application process easier to navigate, easier to understand and easier to act on.

All sessions will be held on Tuesday mornings, from 8:30 to 9:30am. The first session will be on Aug. 9 and the last will be on Sept. 27.

The weekly session topics are as follows:

• Week 1: Making a start – getting the basics right
• Week 2: Navigating the online form – outsourcing, BCP and cyber security
• Week 3: Navigating the online form – competency
• Week 4: Navigating the online form – oversight and conflicts of interest
• Week 5: Navigating the form – code of conduct, complaints, record keeping
• Week 6: Finalising your application and getting ready to submit