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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 result the original time-table for the Information Return has changed. This means that the first 2014 information return will need to be completed at a later date later than originally anticipated, likely to be in June of this year. We will advise the first reporting dates when the Information return is finalised.

Once again, we appreciate your feedback and if you have any questions about this please email us at questions@fma.govt.nz

 

New guidance on broker obligations

If you are a registered provider of broking services on the Financial Services Provider Register (FSPR), our newly released Guidance Note on Broker Obligations is a must read!

It sets out how FMA interprets and applies certain parts of the Financial Advisers Act and is focussed on custody of client money and client property, and the key obligation of brokers to hold client money and client property on trust.