Respective roles of the Code Committee and the Code Working Group
The Financial Advice Code Working Group has been appointed by the Minister to develop a new code of conduct for financial advice that will underpin the new regime proposed for the regulation of financial advice. That Group will replace the current Code Committee once the Financial Services Legislation Amendment Bill is passed into law. Until then, the current Code Committee retains its role under section 82 of the Financial Advisers Act 2008 in relation to the existing code, and remains happy to receive feedback in relation to the operation of that code. Any feedback or queries in relation to the development of the new code of conduct should be directed to the Financial Advice Code Working Group.
31 October 2017
Code Committee’s submission: Consultation – Proposed extension of exemptions for Australian Qualified Advisers and Australian Licensees
The Code Committee has submitted on the FMA’s consultation on the proposed extension of the following exemptions until legislative changes in the Financial Services Legislative Amendment Bill come into effect.
Four members of the Code Committee have been reappointed by the FMA. Shane Edmond, Ross Butler, Melanie Biss and Stephen O’Connor have all agreed to extend their term for 3 years or until the Committee is disestablished, whichever occurs earlier. Code Committee members details can be found here.
11 July 2017
Code Committee’s submission: Consultation Paper – Proposed exemption to facilitate personalised robo-advice
The Code Committee has submitted on the FMA’s Consultation Paper that proposes to issue a class exemption to facilitate the provision of personalised robo-advice services. You can find the Committee’s submission here
29 June 2017
Code Committee members reappointed
Two members of the Code Committee have been reappointed by the FMA. David Ireland (Chair) and Gary Young have each agreed to extend their term for 3 years or until the Committee is disestablished, whichever occurs earlier. Code Committee members details can be found here