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Susan Edmunds
Susan Edmunds
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Regulation

QFEs call for simplification

Thursday 18th of December 2014

AMP and the FMA recently hosted the first QFE Round Table, with representatives from 46 QFEs around the country and 10 FMA members from the compliance division.

AMP said the purpose of the forum was to discuss emerging issues for QFEs and provide an opportunity for QFEs to get together to discuss with the FMA, the common themes arising in their businesses. .

AMP executive legal counsel Therese Singleton said: “With an increasing regulatory regime across the financial services industry, it was likely that all the QFEs across New Zealand were experiencing many of the same issues.  We thought there would be an immense opportunity, and indeed benefit, by bringing together all the QFEs to discuss the issues we are facing, identify constructive solutions and provide a consolidated industry-wide response to the FMA.”

She said the meeting discussed what input QFE industry participants should have in the review of the FAA. It was an opportunity to create a united view that would have input on any changes that might come about, she said.

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