Final changes to the Draft Code
The latest version of the Draft Code includes some significant changes with boundaries added to three code standards, written provisions removed to allow for oral advice and more alternative designation options added for Chartered Life Underwriters (CLUs).
Code formally recommended to the commissioner
The Code Committee has formally recommended that the Commissioner for Financial Advisers David Mayhew consider and approve the Draft Code of Professional Conduct for Authorised Financial Advisers (AFAs).
Crown guarantee may not cover investments in wraps
The Treasury is investigating whether the government's retail deposit guarantee extends to eligible to debt securities invested in via ING's OneAnswer wrap platform.
Mayhew to get Code for approval Friday
Commissioner for Financial Advisers David Mayhew will have a draft code to put forward to the minister on Friday.
Lonsec research bound for New Zealand
Australian research house Lonsec is looking to break into the New Zealand market when it launches a web-based portal next month.
Ban on commissions no longer imminent
The imminent plan by fund managers to ban commissions on the sale of investment products is actually some time away.
News Round Up
More interest rate rises coming; BRIC funds worth a look at.
IFA plans its future
The new chief executive of the Institute of Financial Planners, Peter Lee, outlined goals for the organisation at its annual conference yesterday.
Advisers need to learn how to price their services
It's only a matter of time before commissions are banned and advisers need to decide whether they would prefer to jump or be pushed according to professional service firm pricing consultant Richard Burcher.
Regulator aims for 95% repayment for investors in frozen ANZ/ING funds
The Commerce Commission is aiming for investors in the frozen ING funds to get 95% of their principal back after it settling with the fund manager and ANZ New Zealand last month.
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