Advisers are being asked to fill out a survey for the Ministry of Business, Innovation and Employment on what they think about regulation of the sector, as part of the review of the Financial Advisers Act.
It contains 36 questions covering everything from the adviser’s age and ethnicity through to what benefits they have seen as a result of regulation.
Advisers are asked how effective developments such as the Code of Professional Conduct for AFAs, disputes resolution schemes and the FMA have been in building consumer confidence.
They are also asked whether they think there should be a set minimum standard for non-authorised financial advisers to enter the industry and whether the current requirements for authorised financial advisers are sufficient...MORE»
Tuesday, March 10th, 6:00AM
Accountants and lawyers should no longer be allowed any exemptions to offer financial advice outside the control of the Financial Advisers Act, one industry commentator says.MORE»
Monday, March 9th, 6:00AM
The FMA is warning that just doing the basics of compliance won’t be enough under the Financial Markets Conduct Act.MORE»
Some adviser businesses do not realise they are reporting entities under AML legislation, the FMA says.MORE»
The review of financial adviser regulations has officially started and one industry leader is saying there should not be different classes of advisers.MORE»
Terms of reference for the Financial Advisers Act review have been released.MORE»
Advice accessibility and suitability, as well as issues of conflict of interest, are likely to be top of the list to address as the Financial Advisers Act is put up for review, a regulation expert says.MORE»
A timeline for the review of the Financial Advisers Act has been revealed, and there are concerns that it will be too long and drawn-out a process.MORE»