Two Code Committee members resign
Two members have resigned from the Code Committee of industry representatives that is working on the Code of professional conduct for financial advisers.
The Commissioner for Financial Advisers Annabel Cotton has accepted the resignations of Code Committee members Liz Koh and Patrick Middleton.
Koh and Middleton were attached to firms that gave advice that was ranked "rejected" in the recent Consumer New Zealand report on the financial advice industry.
Cotton says she accepted their resignations to remove the potential for loss of public confidence in the work of the Code Committee, not as any reflection on the professional competence of Koh, Director of Moneymax, Middleton, former Head of Wealth Management at Westpac or either of these companies.
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