Financial Advice submitted on the Financial Markets (Conduct of Institutions) Amendment Bill. We strongly support making institutions and intermediaries (with the express exclusion of Financial Advisers under FSLAA) subject to the Financial Markets Conduct Act’s compliance and enforcement tools, making financial institutions display their fair conduct programme to the public, and giving protection to whistle-blowers. However, there are some areas in the bill which are confusing and require further clarification and, other areas which provide unnecessary powers which could have a devastating impact on the sector and New Zealanders to access quality financial advice.
Click here to read Financial Advice New Zealand’s submission
