A crackdown on adviser qualification requirements could prompt some to leave the industry, it has been claimed.
The Financial Advisers Act review issues paper was released this week and outlines the areas the review will consider.
Among them are adviser qualifications and ethical requirements, adviser designations, classes of advice, the role of professional bodies and how well regulation is serving consumers.
Massey University director of academic programmes Claire Matthews said the questions raised around ethics and education standards were likely to be the most concerning to some advisers...MORE»
Wednesday, April 15th, 6:00AM
With less than two months left to make a decision, a number of advisers are still unsure whether they will offer discretionary investment management services (DIMS) as of the second half of this year.MORE»
Friday, March 13th, 6:00AM
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.MORE»
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»
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»