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  1. 11 March 2015

    Financial Markets Authority AFA Update: Issue # 35

    Information sheets – DIMS A highlights video of the FMA DIMS seminar held in Auckland on the 3rd of December is now available. The seminar included three key segments: understanding DIMS, becoming licensed or authorised, and putting it all together. Some AFAs attending the seminar had questions concerning both contingency DIMS and also the transitional provisions that apply to AFAs who only intend to offer personalised DIMS under the Financial Advisers Act. Accordingly, we have published t...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-35/

  2. 23 December 2014

    Financial Markets Authority AFA Update: Issue # 34

    Information sheets – DIMS A highlights video of the FMA DIMS seminar held in Auckland on the 3rd of December is now available. The seminar included three key segments: understanding DIMS, becoming licensed or authorised, and putting it all together. Some AFAs attending the seminar had questions concerning both contingency DIMS and also the transitional provisions that apply to AFAs who only intend to offer personalised DIMS under the Financial Advisers Act. Accordingly, we have published t...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-34/

  3. 20 November 2014

    Financial Markets Authority AFA Update: Issue # 33

    DIMS Workshop for AFAs Are you thinking about DIMS and what steps to take? To help navigate your way to understanding what’s involved, the FMA will be hosting a DIMS workshop in Auckland next month. The workshop will cover the following topics:Part 1 - Understanding DIMS What is DIMS. Different types of DIMS / contingency DIMS. How it is regulated. Part 2 –Becoming Licensed or Authorised Minimum standards. How to apply for a DIMS licence under Financial Markets Conduct Act (FMC Act) or...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-33/

  4. 6 October 2014

    Financial Markets Authority AFA Update: Issue # 32

    Planning to offer DIMS? While some of the regulations for Discretionary Investment Management Services (DIMS) are still to be finalised there are steps you can take now to start preparing for the changes ahead. For further background on these changes see our most recent update.What can you do now?We understand that until the final regulations are published it is difficult to make a decision on what type of DIMS you or your business will offer, if any.However, as part of our monitoring work we...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-32/

  5. 29 September 2014

    Financial Markets Authority AFA Update: Issue # 31

    Time is nearly up to submit your AFA Information Return Thank you to all the AFAs who have submitted their Information Return. We’ve had a great response so far and we’re looking forward to receiving the remaining ones soon. For those that haven’t begun theirs yet, we recommend starting now as it’s due by 5pm tomorrow (Tuesday 30 September). If you do not submit your Information Return by 5pm tomorrow it will be recorded as overdue and you will be failing to comply with your regulato...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-31/

  6. 24 September 2014

    Financial Markets Authority AFA Update: Issue # 30

    7 days left to complete your Information Return! Time is running out to complete your AFA Information Return. All Returns must be submitted online by 5pm Tuesday 30 September so don’t delay, get started now.Remember, your authorisation as an AFA is subject to the Standard Conditions that include the requirement to complete this Information Return in accordance with the Regulatory Reporting Guide. If you have not yet started completing your Information Return we encourage you to do so promptl...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-30/

  7. 15 September 2014

    Financial Markets Authority AFA Update: Issue # 29

    FMA releases latest AFA and QFE Monitoring Reports The latest QFE and AFA Monitoring Reports have just been released and available to read.Authorised Financial Advisers Monitoring Report 2014Qualifying Financial Entities Monitoring Report 2014   Top tips to help complete your AFA Information Return Only 15 days left to complete your Information Return!Thank you to those AFAs who have already completed their Information Returns. For those who still need to submit theirs, you have only 15 days...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-2/

  8. 18 August 2014

    Financial Markets Authority AFA Update: Issue # 28

    Complete your Information Return now The AFA Information Return is now ready for you to start filing online.The Information Return is the first reporting requirement contained in the Regulatory Reporting Guide (RRG) and is an online tool that each AFA needs to complete and submit annually. It consists of a series of questions about AFAs and their business. Information provided in the Information Return will assist us in our approach to monitoring and surveillance of AFAs and help us allocate o...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-28/

  9. 14 August 2014

    Financial Markets Authority AFA Update: Issue # 27

    Get ready to file your first AFA Information Return On Monday 18 August, all AFAs can start to file their first Information Return. All Information Returns will need to be completed and submitted online no later than 5pm Tuesday 30 September 2014 for the period 1 July 2013 – 30 June 2014 using your RealMe login details.Please note, we will email you the link to login and complete your Information Return next Monday. You will also be able to access it from our website.As a reminder, to help g...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-27/

  10. 16 July 2014

    Financial Markets Authority AFA Update: Issue # 26

    AML/CFT Reporting – clarification on Question 6.1 We have published additional guidance to help you provide the correct information when answering Question 6.1 of the annual AML/CFT report. This includes what to consider when the adviser business counts the number of transactions and value of transactions. We emphasise that in determining the number and value of transactions during the year you only need to provide an estimate. Remember, you can submit your report using our online system any...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-26/

  11. 3 July 2014

    Financial Markets Authority AFA Update: Issue # 25

    Guide to help small financial adviser businesses with the licensing process for DIMS On 18 June, FMA released a quick guide for small financial adviser businesses wanting to become licensed to provide DIMS. The guide explains further the summary of the changes announced on 16 June, by Commerce Minister, Craig Foss. Advertisements advertising financial adviser services This is a reminder to ensure you are meeting all your disclosure obligations under the Financial Advisers Act 2008 (Act). In pa...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-25/

  12. 10 June 2014

    Financial Markets Authority AFA Update: Issue # 24

    Annual AML/CFT reports are due soon! All AFAs who are reporting entities under the AML/CFT Act 2009 are required to prepare an annual report on their risk assessment and AML/CFT programme. If you are unsure if you are a reporting entity, see our AML/CFT Guide for small financial adviser businesses. The first report for the period 1 July 2013 - 30 June 2014 must be submitted to FMA by 30 August 2014.You can submit your annual AML/CFT report, using our standard template, any time between 1 July...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-24/

  13. 30 May 2014

    Financial Advisers Code Committee Seeking Expressions of Interest

    The Financial Markets Authority seeks expressions of interest for membership of the Code Committee established under the Financial Advisers Act 2008. The Code Committee was appointed in 2009 to prepare and periodically review the Code of Professional Conduct for Authorised Financial Advisers. Under the Financial Advisers Act 2008 the Committee may be comprised of between 7 and 11 members from industry and the consumer affairs sector as follows: one member with knowledge, experience and compet...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-advisers-code-committee-seeking-expressions-of-interest/

  14. 28 March 2014

    Financial Markets Authority AFA Update: Issue # 23

    Revised Code of Professional Conduct formally approved by Minister Yesterday the Minister of Commerce, Craig Foss, issued a media release announcing the revised Code of Professional Conduct for Authorised Financial Advisers (AFAs) (Code), which will come into force on 1 May 2014.What this means for AFAsFMA will be communicating the key changes over the coming weeks and sending revised Code booklets to all AFAs. It is important that all AFAs familiarise themselves with the new Code. Changes to...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-23/

  15. 20 March 2014

    Financial Markets Authority AFA Update: Issue # 22

    Second Consultation on Regulatory Reporting Guide (RRG) for Authorised Financial Advisers – open now Further to our last AFA Update, we have opened a second consultation on the proposed RRG for Authorised Financial Advisers. As a result of the constructive feedback received from the first consultation, we undertook a comprehensive and detailed review of the proposed RRG and Information Return, (which is intended to be the first reporting requirement contained in the RRG).The second consultat...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-22/

  16. 12 February 2014

    Financial Markets Authority AFA Update: Issue # 21

    Regulatory Reporting – update Last September we invited submissions about our proposed Regulatory Reporting Guide and Information Return.What you think is important to us so thank you to everyone who gave feedback. Your feedback has been very useful in helping us understand your concerns and we are currently working to address a number of the issues raised.We intend to undertake a limited consultation on a revised Regulatory Reporting Guide and Information Return in the near future. As a res...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-21/

  17. 31 January 2014

    Financial Markets Authority AFA Update: Issue # 20

    Helping you understand the changes ahead for DIMS Check out our recent factsheet ‘Changes ahead for AFAs who provide DIMS’. We are also working on some guidance to help explain the difference between a ‘Class’ and ‘Personalised’ Discretionary Investment Management Service (DIMS). We expect to publish this in February. Licensing changes for new AFAs FMA has reviewed its’ AFA application requirements and has made some important changes. These include changes to the requirements rel...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-20/

  18. 18 December 2013

    Financial Markets Authority AFA Update: Issue # 19

    Guidance Note: Limited personalised advice FMA has released guidance to help financial advisers give high quality limited personalised advice that is time and cost efficient and adopts the right level of compliance. This follows from a number of in-depth face-to-face consultations with AFA groups who provided some very helpful comments which assisted in shaping the guidance note. Guidance Note: Client communications and record-keeping Last week we published our Guidance Note on client communic...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-19/

  19. 6 November 2013

    Financial Markets Authority AFA Update: Issue # 17

    KiwiSaver - providing advice to clients who are considering transferring their Australian superannuation savings to KiwiSaver As you will be aware KiwiSaver is one of the main priorities for FMA. This is because for many New Zealanders, KiwiSaver will be their first investment and will represent a large proportion of their retirement savings and ultimate financial security. With changes in legislation it now means New Zealanders can choose to transfer their Australian superannuation savings in...

    http://fma.govt.nz/news/fma-update/afa-update-archive/financial-markets-authority-afa-update-issue-17/