New guidance for client money and property services brokers
The FMA has published guidance on how client money or property services brokers and custodians can meet their obligations under the Financial Markets Conduct Act (FMC Act).
It replaces the FMA’s 2014 guidance note to align with the new regulatory regime.
The FMA found issues with the previous guidance through monitoring visits and misconduct cases and finalised the new note following consultation with providers and custodians.
A ‘provider’ under the FMC Act is a financial service provider who holds, transfers, or deals with client...MORE»
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