1. News and resources
  2. New financial advice regime
  3. End of year update

End of year update

As we near the end of 2018, it’s likely many of you are starting to think about life in the new financial advice regime.

A lot has happened this year:

  • the Financial Services Legislation Amendment Bill is currently before Parliament and has been through two readings,
  • the Code Working Group has consulted twice on the new Code of Conduct for financial advice, and
  • the Ministry of Business, Innovation and Employment (MBIE) has consulted on disclosure requirements and on addressing misuse of the Financial Service Providers Register.

Early next year MBIE will be in touch with information about new disclosure requirements. You can also expect information from us to help you get ready for transitional licensing.

While we don’t know exact dates yet, MBIE’s latest timeline gives you a good indication of what to expect as Parliament passes the Bill.

MBIE would like your feedback on licensing fees and levies

MBIE has now opened its consultation on licensing fees and levies. To learn about the consultation, and how you can make a submission, visit MBIE’s website.

Submissions close on Friday 22 February 2019.

Need help understanding the jargon?

There are many technical terms used to describe the proposed changes to how we regulate financial advice. To help, we’ve created a list of some of the most common terms used. If we’ve missed a term you need help understanding, email questions@fma.govt.nz or call us on 0800 434 567.

Want to chat with us?

If you have questions about the proposed changes and would prefer to talk to someone, we’re here to help. To book a free 45-minute session, by phone or in person, please email derek.grantham@fma.govt.nz.

Navigating Regulation Advice Summit

In March 2019, we will be presenting at the Navigating Regulation Advice Summits with the Ministry of Business, Innovation and Employment and the Code Working Group, co-hosted by the Financial Services Council (FSC).

The events are free to attend across four locations and will give you the opportunity to network with peers and hear from decision makers and industry leaders.

To learn more about the summit locations and to register for free, go to the Navigating Regulation website: www.navigatingregulation.co.nz.