FMA licenses 201 firms under new securities law regime

By Paul McBeth
May 24 (BusinessDesk) - The Financial markets Authority has issued 201 licenses to a variety of financial services firms in the two-and-a-half years of a new securities law regime.
Of those licensed firms, 66 were managed investment schemes, 53 discretionary investment management services, 31 were independent individual trustees and 22 were derivatives issuers, the FMA's licensing overview report says. The regulator received 253 applications through that period, knocked back 11 with a further 41 withdrawn, typically when t...
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