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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

« NZMBA first association to join up to disputes resolution schemeNew guide to adviser education launched »

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Comments from our readers

On 17 March 2010 at 1:02 pm Murray Weatherston said:
Tui billboard
5 weeks will be a reasonable period for consultation on the draft Code.
Yeah right!
On 17 March 2010 at 6:20 pm Arthur said:
Your seem to think that they will listen to any feedback Murray. That's a good sign.
On 25 March 2010 at 6:10 pm Graeme Lindsay said:
Arthur, That's another Tui billboard:
Of course they'll listen to the feedback... Yeah, right...
Commenting is closed

 

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