Yesterday the Minister of Commerce, Craig Foss, issued a media release announcing the revised Code of Professional Conduct for Authorised Financial Advisers (AFAs) (Code), which will come into force on 1 May 2014.
What this means for AFAs
FMA will be communicating the key changes over the coming weeks and sending revised Code booklets to all AFAs. It is important that all AFAs familiarise themselves with the new Code. Changes to the Code centre around the Code standards relating to ethical behaviour, client care, competence, knowledge and skills, and continuing professional training.
Summary of key changes:
We have also recently published guidance on how Discretionary Investment Management Services (DIMS) will be regulated after 1 December 2014. Please read our guidance here.
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