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 competence in consumer affairs, appointed for three years; and
  • other persons who, in FMA’s opinion, are qualified for appointment by virtue of their individual knowledge of, and experience and competency in relation to, the financial adviser industry.

The role of a Code Committee member is on an as required basis. The current Chairman envisages the key work of the Code Committee over the next three years to initially involve monitoring the effectiveness of the current Code against ongoing regulatory and other developments impacting on authorised financial advisers and the wider financial adviser industry, and then undertaking a further full review of the Code in conjunction with the formal review of the Financial Advisers Act 2008 by the Ministry of Business, Innovation, and Employment.

FMA and the Code Committee are particularly looking for people who have:

  • an understanding of the economic, social, legal, financial, and regulatory issues regarding financial advice in New Zealand
  • experience in specialist areas in the financial adviser profession (eg. comprehensive financial planning or insurance) and in other areas such as compliance, ethics or adviser education
  • involvement in investor and consumer protection activities
  • experience in senior leadership roles, within an organisation and in a profession/industry-wide context
  • ability to work in a collegial, decision-making environment, and to communicate effectively.

Committee members are appointed by virtue of their individual expertise, and not as representatives or nominees of particular interest groups.

Download the full role description and requirements for expressions of interest.

Expressions of interest must be submitted to the Code Committee’s secretariat via email to secretariat@financialadvisercode.govt.nz no later than 5.00pm on Monday 23rd June 2014.