Adviser regulation ready to 'go-live' on 1 December
The last formal step required for the introduction of the new financial advisers' regulatory regime has been taken, and the Code of Professional Conduct for Authorised Financial Advisers came into effect on 1 December.
Time running out for financial advisers
Three hundred financial advisers have sat and passed the Standard Set B examination required for authorisation as a financial adviser under the Financial Advisers Act.
Financial Service Providers Exemption Regulations released
The Financial Service Providers Exemption Regulations 2010 were released on 25 November, and came into force on 1 December.
Commission consults on standard conditions for QFE's disclosure obligations
The Securities Commission has released a consultation paper and invited submissions on proposed disclosure obligations. The proposed obligations are to be included in standard conditions for businesses granted Qualifying Financial Entity status under the Financial Advisers Act.
Voluntary authorisation allowed under financial adviser legislation
Amendments made to the Financial Advisers Act 2008 have removed the requirement for persons who solely provide financial advice on category 2 products (which include a range of simple securities such as call debt securities, general insurance products and consumer credit contracts) to be authorised under the regime.
Guidance note for exemptions under the Financial Advisers Act
The Securities Commission has published a guidance note explaining its approach to granting exemptions under the Financial Advisers Act.
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