Consultation is now open on the draft code of professional conduct, released by the Code Working Group today.
Code Working Group Chair, Angus Dale-Jones, says the Group has been working to create a workable and robust code that will help ensure the availability and quality of financial advice.
“Our role in developing the Code is to set minimum standards of ethical behaviour, conduct and client care, and competence, knowledge and skill that will apply to anyone who gives financial advice to a retail client,” said Dale-Jones.
He explained the draft Code proposes to set competence equivalent to the learning outcomes in the New Zealand Certificate in Financial Services (Level 5), approved by the New Zealand Qualifications Authority in 2014.
“We have also taken a principles-based approach to ensure the Code is flexible and works for all the different types of businesses that provide financial advice, including small firms,” he said.
“We’re now seeking feedback on the draft Code, and want to hear from people about what they think of the proposed standards and how they will work in practice.”
“We’re now seeking feedback on the draft Code, and want to hear from people about what they think of the proposed standards and how they will work in practice.”
Dale-Jones said the Group will host a live chat session during the consultation period and feedback can also be submitted via their online submission form.
Further information and link to the online survey is available at www.mbie.govt.nz/cwg.
Consultation closes on Friday, 9 November 2018.