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Financial Markets Authority AFA Update: Issue # 14

Talk to us

Have you taken the opportunity to talk to us yet? We’re eagerly waiting to hear your feedback on what you think is important for the future of New Zealand’s financial markets. You can also find out more about what we’re currently consulting on. So, why not visit us now?

AFA Monitoring Report

Our April to June 2013 AFA Monitoring Report has now been released. In this edition we talk about the thematic review we conducted on NZX Adviser AFAs.

The purpose of our review was to find out just what services and products were being offered by NZX Adviser AFAs, review advice and high risk processes based on an initial risk assessment and environmental scan, and perform specific targeted monitoring based on the initial risk assessment.

There were two distinct phases:
Phase One – an information gathering and review process; and
Phase Two – a more targeted review of advice practices at an individual level, and a review of specific risks at an entity level.

Click here to find out more…

Guidance Notes - DIMS, Personalised Advice, and Client Communications and Record Keeping

The consultation period for the proposed new FMA guidance relating to Discretionary Investment Management Service, Personalised Advice, and Client Communications and Record Keeping has closed. Feedback provided to FMA is being reviewed currently. FMA is pleased with the level of engagement generated by the consultation and is grateful for the input from industry and the broader public. The guidance notes are expected to be published by mid-October.