We have a formal complaints process if people or companies breach the Financial Advisers Act 2008.
AFAs have certain whistle-blowing protections if they report a breach under the Act.
The Disciplinary Committee is an independent body. It conducts disciplinary proceedings arising from complaints about AFAs relating to breaches of the Code of Professional Conduct for AFAs.
The Committee may take a range of actions as a result of proceedings, including cancellation of authorisation, suspension, and censure.
They are made up of between 4 and 6 members, including the Chairperson. The membership must include at least one member who works, or has worked, in the financial adviser industry, at least one member who is independent of the financial adviser industry, and at least one member who is a lawyer with no less than 7 years legal experience.
The role of the Committee is to:
See more about the Financial Advisers Disciplinary Committee (FADC).
Let us know what you think
Did you find this page useful?