Code committee puts back release date

The Code Committee has postponed the release of its draft Code of Professional Conduct for Authorised Financial Advisers until the end of this month.

Wednesday, March 17th 2010, 6:23AM 3 Comments

The delay again fuels fears that there will not be sufficient for the industry to prepare for the changes.

However, Commerce Minister Simon Power says, in an interview with ASSET Magazine, that the start date for the new regulatory regime isn't likely to change.

Code Committee chairman Ross Butler said yesterday that once the draft is issued there will be a five week period of consultation.

The draft Code release will be supported with a communication note, providing background to the consultation process to date, assumptions, and key decisions of the Code Committee.

He says that "feedback received so far on the committee's three discussion papers...have enabled us to develop a document that we believe is entirely consistent with the purposes of the Financial Advisers Act."

The committee plans to hold a series of information meetings around the country in early-mid April to give people the opportunity to meet with Code Committee members, ask questions, and provide initial feedback."

7 April 8am. Takapuna

8 April 8am Whangarei 2pm Ellerslie

9 April 8am Hamilton 2pm Tauranga

13 April2pm Wellington

14 April 8am Palmerston North 2pm Napier

15 April 8am Dunedin 2pm Invercargill

16 April 8am Christchurch 2pm Nelson

Tags: regulation