Financial Markets Authority AFA Update: Issue # 13

Regulatory Reporting - getting ready to report online

Regulatory reporting is changing, so in the next few weeks we will be inviting you to give us feedback on our first Regulatory Reporting Guide (RRG) for Authorised Financial Advisers (AFAs).

The RRG will set out the periodic and other reporting, accounting and notification requirements that each AFA must report to us, to ensure they are compliant with Standard Condition 2 of the Standard Conditions for AFAs. The RRG will also contain guidance and explanations to assist AFAs to understand and comply with the new reporting requirements.

As part of the RRG, we would like your feedback on a new online questionnaire we will be launching soon called the Information Return.

The Information Return is designed to support your reporting obligations to us and will consist of a series of questions about you, your business, your compliance approach and your approach to continuing professional development.

Your feedback and input into this is very important because starting in 2014, each AFA will need to complete an annual Information Return. We strongly encourage you to participate in the forthcoming consultation to view the questions, try the new system, see what you think and give us your feedback.

It will also give you an early opportunity to start thinking about what information you will need to gather in time before the Information Return goes live early next year.

If you would like further information about this, please contact our Customer Service Centre on 0800 434 567 or email us at questions@fma.govt.nz

Talk to us

We have launched a new website www.talktous.fma.govt.nz to give New Zealanders the opportunity to share their thoughts and tell us what they think is important for the future of New Zealand’s financial markets.

On the site we'll be asking for feedback on our proposals from time to time, but you can also ask us questions about any of the future changes.

Visitors to the site will also be able to see what FMA is currently consulting on and provide feedback.

Code of Conduct Consultation

Reminder: The final date for submissions on the proposed changes is Friday 6 September.

Click here to view the consultation.