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IFA: Push out the regulation deadline for Chch advisers

The Institute of Financial Advisers (IFA) says it will be lobbying the government and agencies to look at an extension to regulation deadlines for Christchurch advisers.

Tuesday, February 22nd 2011, 5:12PM

by Jenha White

IFA chief executive Peter Lee says obviously, financial advisers could be affected by the 6.3 magnitude earthquake and some may have family hurt.

"Their minds won't be on authorisation or compliance for some time to come."

He says the IFA will look to work with other Financial Adviser Associations of New Zealand (FAANZ) members on the issue.

He says ideally the Institute would like the Government to give at least a three-month extension.

"I've already asked the Securities Commission  to see what they can do for advisers in the interim," says Lee.

Professional Advisers Association (PAA) chief executive Edward Richards says it will also be considering lobbying for an extension for Christchurch advisers to meet regulation requirements.

"Quite frankly we want to give people as much time as possible to re-arrange their affairs and that may be just rearranging their business, because their offices may no longer be there."

 

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

« Christchurch advisers - put your hands up for helpKiwiSaver mismatch a 'huge challenge' for advisers »

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