Consultation: Standard Conditions for Qualifying Financial Entities (Qfes) - Disclosure and Related Matters

The Financial Advisers Act 2008 (the Act) provides that a grant of QFE status may be subject to terms and conditions and may also incorporate standard conditions. The proposed standard conditions in this paper relate to a QFE's disclosure obligations under the Act.

This paper supplements the consultation paper on standard conditions for QFEs that was published by the Securities Commission (the Commission) on 28 September. Together, the two papers present the proposed standard conditions for a QFE. The Commission intends use standard conditions for all QFEs, unless there are particular circumstances requiring modifications.

The Act requires that standard conditions must be consulted on before they are approved. This consultation paper is relevant for all QFE applicants and is likely to be of interest to consumer bodies.