Code of Professional Conduct for Authorised Financial Advisers
The Code lays down minimum standards of competence, knowledge and skill, ethical behaviour and client care, along with minimum requirements for continuing education and training.
The Code was approved by Hon Simon Power, Minister of Commerce, on 21 September 2010 and came into force on 1 December 2010.
See the Financial Markets Authority booklet version (external link) of the code.
Upcoming changes to the Code
Following the Code Committee's review of the Code, a revised Code which has been approved by the Minister of Commerce will come into force on 1 May 2014. A copy of this revised Code can be viewed here [PDF, 2.1 MB] and a summary of the key changes can be viewed here [PDF, 135 KB].
A draft version of the revised Code submitted to FMA on 5 December 2013, showing changes from the current version can be viewed here [PDF, 833 KB]. The Code Committee’s response to submission points raised on the 2013 review of the Code can be viewed here [PDF, 1.7 MB], and its response to submission points raised on the exposure draft of the revised Code can be viewed here [PDF, 441 KB].
About the Code Committee
The Code Committee was established under the Financial Advisers Act 2008.
The Code Committee produced a draft code which was approved by the Minister of Commerce under section 92 of the Financial Advisers Act 2008 on 21 September 2010. The Code Committee is now responsible for reviewing the Code from time to time.
For further information concerning financial advisers outside of the scope of the Code, visit www.fma.govt.nz (external link) .