8. Legislative Requirements
126. The proposed legislation on financial intermediaries is likely to place obligations on intermediaries of all classifications in relation to:
- Conduct (including specific conduct requirements, adhering to approved professional body requirements, money handling); and
- Disclosure.
127. Ministry officials note that many of these matters are addressed in existing or proposed legislation.
128. While the proposed financial intermediary legislation will apply to all financial intermediaries, it may be that some obligations that exist in other legislation may be sufficient for that particular type of intermediary, so as not to be required in the legislation here.
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