Current regulatory regime for financial advice

This page sets out the relevant Acts and regulations for the existing regulatory regime for financial advisers in New Zealand.

The Acts

The below Acts relate to the regulatory regime for financial advisers:

Financial Advisers Act 2008(external link)

Financial Service Providers (Registration and Disputes) Act 2008(external link)

The regulations

Here are the regulations that relate to the current regulatory regime for financial advisers:

The Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities and Exemption) Regulations 2011 change the categories of certain financial products and provide a limited exemption for retirement village operators.

Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemption) Regulations 2011(external link)

The Financial Advisers (Disclosure) Regulations 2010 set the disclosure requirements that apply under the Financial Advisers Act.

Financial Advisers (Disclosure) Regulations 2010(external link)

The Financial Advisers (Fees) Regulations 2010 set the fees that apply under the Financial Advisers Act.

Financial Advisers (Fees) Regulations 2010(external link)

The Canterbury Earthquake (Financial Advisers Legislation) Order 2011 gave financial advisers affected by the earthquake extra time to comply with their obligations related to the Financial Advisers Act 2008 and the Financial Services Providers Act 2008.

Canterbury Earthquake (Financial Advisers Legislation) Order 2011(external link)

The Financial Service Providers (Exemptions) Regulations 2010 made exemptions to minimise unreasonable and unjustified compliance costs to businesses.

Financial Service Providers (Exemptions) Regulations 2010(external link)

The Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014 are regulations that apply to custodians of investor assets.

Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014(external link)

The Financial Advisers (Personalised DIMS) Regulations 2014 apply to financial advisers who provide a personalised discretionary investment management service (DIMS).

Financial Advisers (Personalised DIMS) Regulations 2014(external link)