Date Time
FMA appoints Liam Mason as General Counsel
The Financial Markets Authority – Te Mana Tātai Hokohoko (FMA) has appointed Liam Mason as General Counsel.
Rob Everett, FMA Chief Executive, said Mr Mason brings deep experience and institutional knowledge to this critical role, having worked at the FMA since its establishment in 2011.
“As General Counsel, Liam will advise the FMA executive and board, and lead the enforcement, policy and governance, corporate legal, and investigations teams. He is a key adviser on a broad range of matters relating to the FMA’s remit and he continues to be an invaluable part of our leadership team,” Mr Everett said.
FMA provides breakdown of financial advice providers in the new regime
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New Zealand Financial Markets Authority Provides Breakdown Of Financial Advice Providers In The New Regime
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As part of the regulatory shake-up, three adviser types have been removed from the sector
New Zealand has introduced a new regulatory regime for financial advice which requires all advisers to obtain a licence and sign up to a code of professional conduct.
Under the regime, anyone who gives regulated financial advice to retail clients must either hold, or operate under, a Financial Advice Provider licence.
As part of the changes, the three adviser types – registered financial adviser (RFA), authorised financial adviser (AFA) and QFE adviser – have been removed.
All providers of financial advice are now subject to the same obligation to place the interests of their clients first and must adhere to a code of conduct.
New Zealand Financial Markets Authority: Start To New Licensing Regime For Financial Advice Date
14/03/2021
The Financial Markets Authority welcomes the statement from the Minister of Commerce and Consumer Affairs Minister, David Clark, introducing the new regulatory regime for financial advice.
Under the new regime, anyone who gives regulated financial advice to retail clients must either hold, or operate under, a Financial Advice Provider licence. All providers of financial advice are now subject to the same obligation to place the interests of their clients first and must adhere to a new Code of Conduct.
John Botica, FMA Director of Market Engagement said the start of the new licensing regime today was the culmination of nearly five years’ work aimed at promoting public trust and confidence in the financial advice sector.