Putting investor interests first is at the heart of raising the standards of how financial advice is conducted.
See here for all licensing and registration information.
RFAs must, when providing financial adviser services:
RFAs need to annually renew their registration on the Financial Service Providers Register and notify the Registrar of changes. They must be a member of a dispute resolution scheme, if providing services to retail clients.
Any person can complain to the FMA about the activities of an RFA and we can investigate that complaint and take appropriate action.
RFAs are not subject to disciplinary committee proceedings under the Act but we have a range of enforcement actions we can take. The Registrar may also deregister RFAs, or we may give a direction to deregister a RFA in certain circumstances. See Financial Service Providers (Registration and Dispute Resolution) Act 2008, sections 18A to 18C.
22 June 2017
Media Release22 June 2017 The Financial Advisers Disciplinary Committee (FADC) has released its decision into FMA’s complaint against an authorised financial adviser. The FADC has granted name suppression for the time being, until a decision has been made on disposition. A copy of the decision can be found here. Share this Share on Facebook Tweet this...
5 May 2017
Media release MR No. 2017 – 158 May 2017 The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools when they hit 56 years old. The aim of this behavioural insights pilot is to examine if adjusting communications sent to ANZ KiwiSaver members aged 56, and users of their ‘lifetimes’ investment approach, results in more members checking they are on track...
20 February 2017
Media release MR No. 2017 – 05 20 February 2017 The Conduct Outcomes Report 2016 highlights the key issues and actions from the FMA’s enforcement, supervision and preventative activities for the financial year July 2015 to June 2016. Previously published as the Investigations and Enforcement Report, this report shows how the FMA has made use of the broad range of conduct regulation powers available under the Financial Markets Conduct Act 2013. Key ac...