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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
26 June 2017

FADC decision

The Code Committee notes the decision of the Financial Advisers Disciplinary Committee (FADC) published on 22 June 2017. The decision can be viewed here.

FADC found that the respondent AFA had breached Code Standards 6(b) and 12 in relation to certain aspects of the AFA’s pension transfer service, and had breached Code Standards 6(c) and 12 in relation to one instance of providing insurance advice, but found that no breach had been made out in relation to Code Standards 1, 2, 5, 6(a), or 7-9.

The Code Committee welcomes the FADC’s discussion of these Code Standards, and will consider the comments made by the FADC and their implications when the Code Committee next meets.
13 April 2017

Code Committee departure
Dimity Kingsford Smith has stepped down as a Code Committee member, effective 31 March. Code Committee members details can be found here.
15 March 2017

Code Committee’s submission for: Consultation Paper – New Financial Advice Regime: The draft Financial Services Legislation Amendment Bill and proposed transitional arrangements - see here.

Useful Links

Organisation Type Organisation Name Website
Financial Markets Regulator Financial Markets Authority www.fma.govt.nz (external link)
Industry Training Organisation (ETITO) The Skills Organisation http://skills.org.nz/industries/financial-services/authorised-financial-advisers (external link)
Manager of Qualifications Framework New Zealand Qualifications Authority www.nzqa.govt.nz (external link)
Links to Legislation Parliamentary Counsel Office www.legislation.govt.nz (external link)
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