In our latest poll, we ask whether you support the new Code of Conduct, which was approved by Minister Faafoi last week (see: Minister Approves Code of Conduct…)
However, not all are happy with the final approved version of the Code. Financial Advice New Zealand has voiced concern in the area of qualifications and professional development (see: Code Falls Short…).
The association expressed its disappointment that the Code lacked a minimum qualification requirement for all who provide regulated financial advice and that there was no minimum requirement for CPD either.
“A key objective of the new regime is to build public confidence and trust in the financial services sector: ensuring that New Zealanders deal with qualified people is an absolutely crucial component in this,” says Chief Executive, Katrina Shanks.
“It is fundamental that an adviser ensures they keep their key competencies and knowledge up-to-date. The Code ought to have a minimum level and require ‘any additional CPD’ to maintain competency,” she said.
Do you have the same concerns as Shanks has expressed? Or are there other aspects of the Code you are not comfortable with or elements you feel have been overlooked?
Most likely, you will have found the time to read the document already, but if you haven’t you can find it by clicking here.
Let us know your opinion in the poll above and we’ll report back to you next week with the results…