MR No. 2019 – 13
29 March 2019
The Financial Advisers Disciplinary Committee (FADC) has published its findings in a case referred to the Committee by the FMA.
A copy of the findings can be found here.
The FMA encourages all Authorised Financial Advisers to read and consider the findings of the Committee.
The FMA is required under the Financial Advisers Act 2008 to refer a complaint to the FADC if, following an investigation, the FMA believes the conduct of an adviser is in breach of the Code of Professional Conduct for AFAs.
The FMA will comment further on the case following the final determination of the Committee.
Senior Adviser, Media Relations
021 702 036
The Financial Advisers Disciplinary Committee (FADC) is an independent body established under the Financial Advisers Act. The FADCs functions are:
To conduct disciplinary proceedings arising out of complaints about Authorised Financial Advisers (AFAs) in relation to breaches of the Code of Professional Conduct, as referred to the FADC by the FMA.
To consider and impose appropriate penalties that may range from recommending that the FMA cancel an AFA's authorisation, to imposing a fine of up to $10,000 as a result of disciplinary proceedings.
For more information on the FADC upcoming hearings and members of the committee go to fadc.govt.nz