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Financial Markets Authority AFA Update: Issue # 22

Page last updated: 20 Mar 2014

Second Consultation on Regulatory Reporting Guide (RRG) for Authorised Financial Advisers – open now

Further to our last AFA Update, we have opened a second consultation on the proposed RRG for Authorised Financial Advisers. As a result of the constructive feedback received from the first consultation, we undertook a comprehensive and detailed review of the proposed RRG and Information Return, (which is intended to be the first reporting requirement contained in the RRG).

The second consultation paper summarises our responses to some of the key themes and issues raised by submitters on the first consultation and includes the revised Information Return.

Your feedback to date has helped us refine the proposals and we welcome any further input from advisers and industry groups. Submissions are due to FMA by Wednesday 9 April so please take part.

DIMS factsheet for AFAs

Following on from our November 2013 update we have published another factsheet to help you understand and prepare for the change in the way DIMS will be regulated in the future. This factsheet provides guidance on the difference between Class and Personalised DIMS. There is also a more detailed set of frequently asked questions that includes practical examples.

AFA Monitoring Report July – December 2013

FMA has just released its July - December 2013 AFA Monitoring Report. Our report covers three specific themes, they are: Christchurch and Canterbury region, UK pension transfers and complaints processes.