FMA Publishes First Monitoring Insights Report Into Financial Advice Providers
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – today published its first monitoring report of the new financial advice regime.
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The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – today published its first monitoring report of the new financial advice regime.
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The review found some licensed advisers were taking a tick-box approach to compliance, with a small number of lapses resulting in harm to clients.
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Financial advisors must now be fully licenced to provide advice to retail clients, which should give consumers more confidence when making financial decisions.