Viewing entries tagged with 'code'

FMA: code changes must be adopted

16 November 2016

Advisers must have their business practices updated in line with the new Code of Conduct requirements by March 1, the Financial Markets Authority has warned. More>

FMA: revised Code of Professional Conduct for AFAs approved

12 September 2016

The revised Code of Professional Conduct for authorised financial advisers (AFAs) has been approved by the Minister of Commerce and Consumer Affairs Paul Goldsmith. AFAs are required to meet the minimum standards of professional conduct set out in the Code. FMA. More> 

Best interest 'unworkable'

2 September 2016

A requirement to act in clients’ best interests is being described as “unworkable” in practice. Instead, it is argued, the industry should consider changing the standard to “best interest,” to hold advisers to the same level as lawyers, dentists, fund managers and real estate agents.  More>

Client interests: first, best or last?

21 August 2016

Imagine you’re seeing your doctor or lawyer and they tell you “just so we are clear, my duty is to put your interests first… but I won’t necessarily be acting in your best interests.” How would you feel? Comforted and relieved? Or surprised and confused? In this commentary Pathefinder Asset Management's John Berry looks at a financial adviser’s duty to place the interests of the client first (but not to act in the client’s best interests). What does this mean? Is it what clients expect? More>