FMA boss tells RFAs the clock is ticking and they better hurry up
Financial Markets Authority chief executive Rob Everett has warned RFAs that they really need to be making some decisions around how they want to operate in a regulated environment as time is running out.
Transitional licensing opens on November 4 and closes six months later.
Everett says some advisers have been quite engaged but others are still asking "basic" questions and others don't seem engaged at all. He says around 50% of the RFA population haven't yet accessed the resources the FMA has put online to help them work out appropriate business decisions for their future.
"Not surprisingly with a sector that hasn’t been directly licensed before, what we’ve found is part of that sector have never really considered how they would fulfil some of the obligations that would be in the new regime."
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
