Game on for financial advisers

Actually that's a total exaggeration to say advisers are about to find out what the rules are. Today the Minister of Commerce released the Terms of Reference (ToR) for the review of the Financial Advisers Act.

Overall the document is pretty high level (maybe like a drone over a World Cup cricket game?). However it is clear this is going to be a long and slow process.

There are five stages which take the process right through to July 1, next year which is the statutory deadline for a report to the minister. (Who knows what will happen after that is filed?)

The ToR document held no specifics. For instance topics like designations and professional development requirements don't get a mention - and don't expect to hear about them for some time.