Discussion Documents

View old discussion documents relating to the financial service providers and financial advisers regimes.

Fees Regulations

Submissions closed 13 November 2009 on proposed fees under the new Financial Services Providers (Registration and Dispute Resolution) Act 2008 and the Financial Advisers Act 2008.  The fees proposed are for the registration of financial service providers and the authorisation of financial advisers (initial and ongoing).

Additional fees proposed to be paid by financial service providers cover the cost of criminal history checks and a contribution towards the administration of the consumer dispute resolution regime.

View the fees discussion document [79 kB PDF]

Financial Adviser Regulation

The new Financial Advisers Act 2008 makes the Securities Commission ¹ the main regulator of financial advisers.  Two discussion documents were released outlining proposals for the new regulatory regime and interested parties were invited to make submissions.

Submissions on the “Staff Paper” closed on 30 July 2009 and submissions on the Disclosure Regulations closed on 12 August 2009.
 

• Disclosure regulations for financial advisers (Note this link is no longer active) 
• Staff paper on regulating and supervising financial advisers (Note this link is no longer active) 

Notes

¹ On 1 May 2011 the Financial Markets Authority (FMA) came into existence.  The FMA performs the regulatory functions previously undertaken by the Securities Commission and some of those of the Government Actuary and Companies Office.