The Code v2 is a shift in thinking
The code working group released a draft version of the new code last week. Submissions are open until November 9 and the code should be approved by the Commerce Minister by early next year.
Group chairman Angus Dale-Jones acknowledged the draft was a significant change from the original consultation document released earlier in the year.
He said that document was designed to get a sense of where the industry’s opinion lay. “We got that. Some things we had very strong feedback on. There’s been quite a move in thinking, that’s the purpose of consultation.”
The draft code steps back from a number of things, including a degree requirement for financial planning, and detailed direction on how advice businesses should operate.
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