CODE COMMITTEE FOR FINANCIAL ADVISERS
9 August 2012
The Code Committee for Authorised Financial Advisers (AFAs) has elected David Ireland as Chair for the next 12 months. -
read more here
9 August 2011
FMA announces appointment and reappointments to Code Committee -
read more here
21 September 2010
Minister approves code of conduct for financial advisers
See Minister's news release
Issues Paper in relation to the 2nd draft of the Code of Professional conduct for Authorised Financial Advisers
Read more here
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