1. Compliance
  2. Consultation
  3. Consultation: New financial advice regime exemptions

Consultation: New financial advice regime exemptions

Page last updated: 15 Aug 2019

Final date for submissions

5 pm Friday, 13 September 2019

Consultation document

Consultation: New financial advice regime exemptions

Submission form

Feedback form

E-mail for submission consultation@fma.govt.nz (please use the title of the consultation paper for the subject line)

The Financial Services Legislation Amendment Act 2019 (FSLAA) will introduce a new regulatory regime for financial advice. We are considering where FMC Act exemptions may be useful to support effective operation of the new regime.

This consultation considers three matters where we think it may be useful to continue existing Financial Advisers Act exemption relief to support effective operation of the new financial advice regime:

  • Australian licensees
  • Overseas custodians – assurance engagements
  • Australian qualified advisers.

This consultation also considers matters where we think existing FA Act exemption support will no longer be required given expected changes in the law:

  • Recognition of alternative qualifications
  • NZX and non-NZX brokers – client money and client property
  • Personalised digital advice
  • Offers of financial products through AFAs supplying personalised DIMS.

We welcome your comments on the matters considered in the consultation document, and any additional matters that you believe should receive support from our legislative tools.