The FMA says advisers no longer need to contact its staff to tell them that their ABS is current.
“While this is an important part of your standard conditions, sending us an email is no longer required,” it said.
“This is because we have included this confirmation in your AFA information return that you must complete each year. All you need to do is simply tick a box and it is done.”
The FMA’s new e-services portal will go live in June or July and AFA renewals will be one of the first services available.
A report on life insurance products sold through financial advisers is also due from the regulator by the end of June.
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