FMA censures Opes for breaching financial advice provider licensee obligations
FMA censures Opes for breaching financial advice provider obligations, citing record-keeping, client understanding, and conflict risks.
Use our AI search to ask us a question or use keywords to search for pages or documents.
Example: "How do I apply for a financial institution licence?", "FMA Annual Report 2024"
Use our AI search to ask us a question or use keywords to search for pages or documents.
Example: "How do I apply for a financial institution licence?", "FMA Annual Report 2024"
Generating AI summary…
FMA censures Opes for breaching financial advice provider obligations, citing record-keeping, client understanding, and conflict risks.
This information sheet sets out our expectations for how licensed financial advice providers (FAPs) can demonstrate compliance with the standard condition for record keeping.
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published an information sheet for financial advice providers (FAPs) about how they can demonstrate compliance with record keeping obligations.
This information sheet sets out our expectations for how licensed financial advice providers (FAPs) can demonstrate compliance with the standard condition for record keeping. It will be useful for small and medium-sized FAPs to consider the examples provided when reviewing their internal arrangements for creating and maintaining records.