The latest ‘5 Minutes with the FMA‘ series of podcasts features the organisation’s Director of Deposit Taking, Insurance, and Advice, Michael Hewes.
In the podcast he says he is impressed with how many advisers have done the work to meet the new licensing requirements and that they have “…collectively strengthened the sector”.
“Advisers must be part of an approved disputes resolution scheme, one that clients can use for free in the event of any problems,” he says.
“There are also requirements around business continuity planning, record keeping and cyber-security that also need to be met before we issue a licence.”
Listen to the podcast here.