AFAs will have to answer 40 questions about their businesses each year in Information Returns submitted to the Financial Markets Authority.
The returns are required as part of the new reporting requirements for AFAs.
The first return has to be filed by September 30 this year, covering their business activities up until June 30.
The confirmation of the questions follows two rounds of consultation.
The first draft of the return ran to more than 20 pages and 73 questions. It asked for details of an adviser’s income, which many complained was a breach of privacy...MORE»
Wednesday, March 26th, 6:00AM
Industry participants were scathing in their response to the first draft of the new information return advisers will now have to complete annually. But the changes the FMA has made in its second attempt have been cautiously welcomed.MORE»
Thursday, March 6th, 6:00AM
There is concern regulation of discretionary investment management services under the new Financial Markets Conduct Act is overkill.MORE»
A “reasonableness” standard should be included in the conflict of interest standard in the new Code of Professional Conduct for Financial Advisers, a Chapman Tripp senior associate says.MORE»
Moves to require structured continued professional development credits to have credentials beyond merely being provided by a professional body will give genuine organisations a boost, the Institute of Financial Advisers says.MORE»
[UPDATED, ADDS DAVID IRELAND COMMENT] Under the new proposed code for financial advisers, rules around CPD credits and who can offer them are being tightened and the proposed KiwiSaver delegation has been dropped.MORE»
A controversial proposed KiwiSaver pathway has been all but done away with under the revised Code of Professional conduct, released today.MORE»