Fine details of FSLAA revealed

The Ministry of Business, Innovation and Employment last week released the regulatory requirements tjhat underpin FSLAA.

Penny Sheerin, partner at Chapman Tripp says that any advisers reeling at the updates needn’t worry too much if they are already on board with the changes.

“Really these updates are just the finer details. Tidy-ups to some of the wording of the regulation. Updating terminology to reflect the new regime and a number of other quite administrative points. A lot of it is not ground-breaking new content.”

But Sheerin notes that there is one area which advisers need to pay heed too.