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Options paper discussed

A group of industry bodies has met representatives of MBIE and FMA to discuss the FAA review options paper.

Friday, December 18th 2015, 5:58AM

The meeting included the IFA, PAA, SiFA, SIA, IBANZ and AMP advisers association.

IFA president Michael Dowling said MBIE was engaging with as many people as it could to get the most robust outcome.

“They don’t want to do change for change’s sake.”

He said there seemed to be two clear priorities: Better clarity and less confusion for consumers and what mechanisms could be used to effect better behaviour from advisers and providers.

The IFA is to hold a focus group to discuss the options paper and inform its submission on behalf of the membership.

Dowling said MBIE had been urged to workshop any suggestions that appeared to be points of contention, to get a clear impression of advisers' views.

Tags: Financial Advisers Act

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