Financial Advisers Act – latest developments

Revised Code of Professional Conduct for Authorised Financial Advisers submitted
The Code Committee for Financial Advisers has submitted a revised draft Code of Professional Conduct for Authorised Financial Advisers to the Commissioner of Financial Advisers.

Guide for Authorised Financial Advisers released
The Securities Commission has released the AFA Adviser Business Statement Guide, to help financial advisers prepare for the new regulatory regime.

Legislation simplifying compliance for financial advisers passed
The Financial Service Providers (Pre-Implementation Adjustments) Act amends the regulatory framework established under the Financial Advisers Act and the Financial Service Providers (Registration and Dispute Resolution) Act.

Further transitional measures now in place for the new financial advisers' regime
A number of transitional orders and regulations were made on 9 August.

Financial Service Providers register now open
The recent opening of the Financial Service Providers register marks the start of the transition to full implementation of the Financial Advisers Act and the Financial Service Providers Act (Registration and Dispute Resolution) Act.

Enquiries and information

For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.