1. Compliance
  2. Registered financial advisers
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Registered financial advisers

RFAs are individual advisers who are required to be registered under the Financial Advisers Act 2008.

Your obligations

RFAs can provide financial advice in relation to a category 2 product. RFAs are permitted to provide a class service to a retail client, or a financial adviser service to a wholesale client.

Calendar

See upcoming events and key dates.

Financial advice

Putting investor interests first is at the heart of raising the standards of how financial advice is conducted.

Registration

See here for all licensing and registration information.

Monitoring

RFAs must, when providing financial adviser services:

RFAs need to annually renew their registration on the Financial Service Providers Register and notify the Registrar of changes.  They must be a member of a dispute resolution scheme, if providing services to retail clients.

Any person can complain to the FMA about the activities of an RFA and we can investigate that complaint and take appropriate action.

RFAs are not subject to disciplinary committee proceedings under the Act but we have a range of enforcement actions we can take. The Registrar may also deregister RFAs, or we may give a direction to deregister a RFA in certain circumstances. See Financial Service Providers (Registration and Dispute Resolution) Act 2008, sections 18A to 18C.

 

Latest News

Consultation complete on FMA’s conduct guide: final document...

13 December 2016

Media releaseMR No.2016 – 3813 December 2016 Earlier this year the FMA consulted on a guide on good conduct, signalling to New Zealand financial services providers what to expect from interaction and engagement with the conduct regulator. With a broad range of industry submitting, the process has given the FMA valuable insight into how New Zealand financial services providers view the topic of conduct regulation in general; and the intent and content o...

Fraud and its far reaching effects hit the big screen

20 September 2016

The inaugural New Zealand International Fraud Film Festival (Fraud Film Festival) is coming to Auckland’s Q Theatre in November. The festival is timed to coincide with November’s Fraud Awareness Week and will open on Friday, 18 November.

 

Latest Consultations

Consultation paper: Requirement for managers of multiple par...

16 January 2017

First published 16 January 2017   Final date for submissions   5pm Friday 17 March 2017   Consultation document Requirement for managers of multiple participant schemes to register participation agreements Submission form Feedback form E-mail for submission consultation@fma.govt.nz (please use the title of the consultation paper for the subject line) We are seeking views on a proposal for a possible class exemption from the Fin...