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Code of Professional Conduct for AFAs

Page last updated: 1 Dec 2016

The Code of Professional Conduct for Authorised Financial Advisers (AFAs) was approved by the Minister of Commerce under section 92 of the Financial Advisers Act 2008 on 21 September 2010 and came into force on 1 December 2010. The Code has since been updated and a revised Code was approved by the Minister of Commerce on 13 March 2014 which came into force on 1 May 2014. The Code has then been further updated and a further revised Code was approved by the Minister of Commerce and Consumer Affairs on 23 August 2016 and came into force on 1 December 2016.

The Financial Advisers Disciplinary Committee (FADC) is responsible for conducting disciplinary proceedings arising from complaints about AFAs, relating to breaches of the Code, referred to it by the Financial Markets Authority. More information about FADC, the hearing process and the procedural rules can be found at their website.

Code of Professional Conduct for AFAsCode of Professional Conduct for AFAs

Each standard in this Code consists of an overarching principle identified as a Code Standard together with additional provisions that contain further detail about the application of the Code Standard. Unless otherwise stated, the additional provisions do not limit the application of the overarching principle under which they are stated, or the application of any other Code Standard. AFAs must apply the Code Standards in a way that encourages public confidence in the professionalism and integrity of financial advisers.