Have your say on financial advice lawsPosted to Financial Capability on 04-12-2015
The government is reviewing New Zealand’s financial advice laws and wants to hear from the public about what should happen next.
It is considering ways to simplify the regime, improve access to financial advice and raise confidence in the financial advice industry.
Financial advice can be one-off, such as choosing an insurance policy or KiwiSaver provider, or more comprehensive and sometimes ongoing about how to achieve your financial goals.
The review of the Financial Advisers Act and the Financial Service Providers Act aims to ensure consumers can access the advice they need and want and that advice improves their financial outcomes.
The Ministry of Business, Innovation and Employment has released some possible options to change the financial advice regime.
It has produced a brochure that provides a snapshot of the issues and some of the key questions and would like the public to send in their comments.
Questions it would like to address include:
- How easy is it to tell the difference between ‘sales’ and ‘financial advice’?
- What information from a financial adviser would be useful to you?
- Would you be comfortable receiving financial advice online?
Comments can be emailed to email@example.com and submissions close at 5pm on Friday 26 February 2016.
Next: The juggling’s over