1. Compliance
  2. Registered financial advisers
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Your obligations

RFAs can provide financial advice in relation to a category 2 product. RFAs are permitted to provide a class service to a retail client, or a financial adviser service to a wholesale client.

Calendar

See upcoming events and key dates.

Financial advice

Putting investor interests first is at the heart of raising the standards of how financial advice is conducted.

Registration

See here for all licensing and registration information.

Monitoring

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.

 

Latest News

FMA publishes annual corporate plan

28 August 2017

The Financial Markets Authority is publishing its annual corporate plan for the first time, setting out its planned regulatory activities and key areas of focus to June 2018.

FADC decision on a financial adviser

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...

KiwiSaver trial to target decision-making a decade out from ...

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...

 

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