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.
The revised draft of the new code was released this month, and submissions on it closed last week.
Among the changes made to the code were moves to make it clearer that code standard one – the requirement that advisers act in clients’ best interests – was the overriding concern, and changes to code standard five, regarding conflicts of interest, which simplifies rules around any conflicts that might arise...MORE»
Wednesday, October 9th, 6:00AM
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»
Friday, October 4th, 6:01AM
[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»
Authorised financial advisers will have to provide the Financial Markets Authority with an annual in-depth report on their businesses and the advice they are giving under regulatory reporting requirements it is proposing.MORE»
Although the Financial Advisers Act has been in place for more than two years some advisers still aren’t doing all that is required by law.MORE»
Most registered financial advisers have taken some of the steps required to become authorised, the PAA says.MORE»