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Financial advisers

A new regulatory regime for the financial industry was introduced in 2011.

The changes should increase investor confidence in the financial services industry. Financial advisers are now accountable for their advice, and must reach high standards of competency and professionalism.

  • Financial advisers must be listed on a public register.
  • Financial advisers who wish to be authorised must complete training and apply for authorisation from the Financial Markets Authority.
  • Advisers providing financial services to the public must belong to an approved dispute resolution scheme.
  • Authorised financial advisers must follow a code of professional conduct that covers ethics, client care, knowledge, skills and competence, and continuing professional development.


The regime took full effect from 1 July 2011. Financial advisers in Canterbury had until 1 October 2011 to comply.

Financial Markets Authority

 

The acts

Acts relating to the new regulatory regime for the financial industry.

Read more about The acts

The regulations

Regulations relating to the new regulatory regime for the financial industry.

Read more about The regulations

Regulatory impact statements

Regulatory impact statements are written to help Cabinet consider proposed regulations.

Read more about Regulatory impact statements

Cabinet papers

The below papers relate to the new regulatory regime for the financial industry

Read more about Cabinet papers

Last updated 7 December 2011