The Financial Advisers Disciplinary Committee (FADC) is an independent body established under the Financial Advisers Act. The FADCs functions are:
- To conduct disciplinary proceedings arising out of complaints about Authorised Financial Advisers (AFAs) in relation to breaches of the Code of Professional Conduct, as referred to the FADC by the FMA
- To consider and impose appropriate penalties that may range from recommending that the FMA cancel an AFA's authorisation, to imposing a fine of up to $10,000 as a result of disciplinary proceedings.
For more information on the FADC upcoming hearings and members of the committee go to fadc.govt.nz