Financial Advice NZ wants new govt to give advisers a breather

Interim FANZ chief executive Tony Dench says he's pleased that the National, Act and NZ First coalition government “isn't rushing into regulatory changes.”

“What I'm really looking for is to see a considered and deliberate approach and constructive engagement with the financial sector to make sure that any revisions work well for suppliers, financial advisers and consumers,” Dench told GoodReturns.

The government has published a 49-point plan of what it intends to achieve in its first 100 days and Dench says he's pleased it doesn't include the review of the Credit Contracts and Consumer Finance Act 2003 (CCCFA) that the new government has promised.

That's despite it being one of the most complained about piece of legislation affecting the financial services industry and despite much tinkering by the previous government to try and make it more workable.