1. Compliance
  2. Consultation
  3. Consultation papers
  4. Consultation paper: Personalised DIMS under the Financial Advisers Act 2008

Consultation paper: Personalised DIMS under the Financial Advisers Act 2008

 

First published 19 November 2014

 

Final date for submissions

 

9 December 2014 at 5pm
(this consultation has concluded)

Consultation paper Personalised DIMS under the Financial Advisers Act 2008
Submission form Included as a part of the consulation paper
E-mail for submission consultation@fma.govt.nz (please use the title of the consultation paper for the subject line)

Response to submissions

Response to submission Personalised DIMS
Resulting document Transitional provisions for AFAs providing a Personalised DIMS Information Sheet 

The Financial Markets (Repeals and Amendments) Act 2013 introduces amendments to the Financial Advisers Act 2008 (the FA Act). This means for a person to be authorised to provide a Personalised DIMS they must meet the prescribed eligibility criteria.

These criteria are set out in the Financial Advisers (Personalised DIMS) Regulations 2014. To be eligible you must be capable of effectively performing the Personalised DIMS. The FMA will assess capability against minimum standards.

Advisers who provide Personalised DIMS will also be expected to ensure ongoing compliance with additional Standard Conditions which reflect the minimum standards.

This paper outlines the proposed minimum standards the FMA will use to assess eligibility to provide Personalised DIMS. The paper also outlines the proposed additional standard conditions. We invite you to review these and share your feedback with us.