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Ireland keeps Code Committee chair

Lawyer David Ireland has been reappointed to the chairmanship of the Code Committee which is about to embark on making some changes to the code.

Wednesday, July 31st 2013, 2:42PM 1 Comment

The Code Committee for Authorised Financial Advisers (AFAs) has re-elected David Ireland as chairman for a further 12 months.

Ireland is a partner at Kensington Swan and has been a member of the committee since it was established in 2009.

The Committee is about to consult on proposed enhancements in its first formal review of the Code since it came into force on December 1, 2010.  One idea is to develop a designation for advisers wanting to give advice around KiwiSaver only. (Story here)

Committee member Michael Staal was also recently reappointed to the Code Committee for a further one year.

The current members are: David Ireland, Ross Butler, Shane Edmond, David Russell, Professor Dimity Kingsford-Smith, Gary Young and Michael Staal.

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Comments from our readers

On 1 August 2013 at 6:51 am Bazza said:
Excuse my ignorance, but what would be the difference between a Kiwisaver only AFA and an AFA? How can that change be made by altering the Code and not altering the FAA? Because The FAA can't be altered by the code committee, here are their functions;

The functions of the code committee are—

(a) first, to produce a draft code for approval by the FMA; and

(b) subsequently, to review the code from time to time; and

(c) to recommend to the FMA changes to the code as the code committee thinks fit.

I would have thought that Kiwisaver only advisers who have to AFA anyway should be in for a penny in for a pound and the code would apply as normal?

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