A registered individual FSP may choose to apply to be an authorised financial adviser (AFA) at any time.
As of 7 September 2013, insurers must be licensed under section 19 of the Insurance (Prudential Supervision) Act 2010.
From 1 May 2014, non-bank deposit takers must be licensed (defined in section 5 of the Non-Bank Deposit Takers Act 2013) in order to carry on non-bank deposit taker business in New Zealand.
All banks operating in New Zealand must be registered with the Reserve Bank of New Zealand.
Six licensed services were introduced by the Financial Markets Conduct Act 2013.