CODE COMMITTEE FOR FINANCIAL ADVISERS
5 December 2013
Revised Code of Conduct submitted to FMA See news release
19 – 26 August
Public meetings on Code Consultation See venues and times
9 August 2013
Code of Conduct consultation begins See news release
31 July 2013
Chair for Financial Adviser Code Committee re-elected See news release
17 November 2009
The Financial Advisors Code Committee has released a consultation paper on proposed minimum standards of ethical behaviour and client care. The Code Committee seeks feedback and submissions on this consultation paper by 5pm 18 December 2009.
Chairman Ross Butler said that the Committee has proposed an over-arching ethical behaviour standard.
"The first principle is that any authorised financial adviser must place their client's interests first and act with integrity," he said.
The Committee is proposing that financial advice must be independent and objective, unless the adviser clearly communicates the lack of independence and/or objectivity to the client, and puts in place appropriate safeguards. This could include offering the client the opportunity to take independent advice.
Ross Butler said that the proposed Code also includes client care standards.
"Client care is critical to the delivery of good advice, and we are proposing that advisors must build seven client care principles into the way they work with their clients," he said.These standards are:
The consultation paper may be downloaded from www.financialadvisercode.govt.nz
For a hard copy phone 04 472 9830 or email email@example.com
For further information please contact Ross Butler, Code Committee Chairman, ph 021 359 899