Adviser taskforce asks questions
The taskforce set up to look at whether advisers should be regulated has published an issues paper asking people what issues it should focus on.
Wednesday, December 22nd 2004, 5:38AM
The paper takes a very broad approach to the issue including the definition of an adviser and the industry.
Its broad definition includes all the expected people, such as financial planners, tied agents, mortgage brokers, sharebrokers, lawyers and accountants, but also asks whether people who give advice on or sell investment properties should be included and whether journalists are advisers.
Taskforce chairman Michael Webb said this process is intended to help identify what the issues might be.
“We’re asking consumers, and the industry, to help us gain an understanding of what their experiences have been and what problems they think there are or might be.
“Our job as a task force is to see how New Zealand’s financial advisers and marketers measure up – to the standards New Zealanders expect and to international practice – and what, if any, changes in law may be desirable”.
The paper also asks people if there are “any issues under the current regulatory environment”.
The task force’s questionnaire and a more detailed issues paper are both available online at http://financialadvisers.med.govt.nz
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