Council of Financial Regulators
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Consultation: New financial advice regime exemptions

The FMA have released an announcement regarding the new financial advice regime exemptions, stating:

This consultation considers three matters where we think it may be useful to continue existing Financial Advisers Act exemption relief to support effective operation of the new financial advice regime:

  • Australian licensees
  • Overseas custodians – assurance engagements
  • Australian qualified advisers.

This consultation also considers matters where we think existing FA Act exemption support will no longer be required given expected changes in the law:

  • Recognition of alternative qualifications
  • NZX and non-NZX brokers – client money and client property
  • Personalised digital advice
  • Offers of financial products through AFAs supplying personalised DIMS.

They are welcoming feedback on this - click here to read more. 


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