Financial advisors have been working under their brand-new regulatory structure for almost 3 years and many have actually changed the means in which they operate over that time.
In 2011 the Code of Professional Conduct for Authorised Financial Advisers, which sets clear standards for the stipulation of monetary suggestions, came into force. Ever since, lots of advisers have been the patient of audits by the Financial Markets Authority to look at their compliance with the Code and legislation such as the Financial Advisers Act (2008). The FMA remains to deal with policies and policies that will broaden the regulative framework for advisers. (more…)