Financial Advice Code Working Group

The Minister of Commerce and Consumer Affairs has appointed a Financial Advice Code Working Group to develop the new code of conduct for financial advice.

The new code will set standards

The new code will set standards of competence, conduct and client-care for the whole financial advice industry. These standards will apply after the Financial Services Legislation Amendment Bill comes into force.

In developing the code of conduct, the Code Working Group is completing consultation with the financial advice industry and consumers.

The Code Committee under the current regime will retain its mandate until the new financial advice regime takes effect.

Members of the Code Working Group

Members of the Code Working Group are appointed for a 3-year term. The Code Working Group will become the Code Committee under the new regime once the Bill is passed into law.

Members are:

  • Angus Dale-Jones (Chair): Angus was previously an independent board member of the Professional Advisers Association (PAA). He also chaired a joint PAA and Institute of Financial Advisers committee to design a new professional association. He is now an independent consultant with financial services clients in New Zealand and Australia.
  • Barbara Benson: Barbara was previously Manager, Teacher Education at the Education Council of Aotearoa New Zealand, a Ministerial-appointed layperson on the Veterinary Council of New Zealand, and a member of the National Animal Ethics Advisory Committee.
  • Brian McCulloch: Brian is an independent consultant, an Independent Director at Utilities Disputes Limited, and a lay member on the Health Practitioners Disciplinary Tribunal.
  • John Berry: John is the CEO of Pathfinder Asset Management, a boutique fund management firm.
  • Graeme Edwards: Graeme is the General Counsel and Company Secretary at ASB Bank.
  • Paul Mersi: Paul is currently an independent director and consultant, and a former Senior Partner and Head of Financial Services at PwC NZ.
  • Rebecca McCleland: Rebecca is a Director in Advisory at KPMG New Zealand and is an Authorised Financial Adviser. She was previously Head of Financial Advice Delivery and Service, Milford Asset Management.
  • Shane Edmond: Shane is Head of Private Client Services at Forsyth Barr and is a member of the current Code Committee.
  • Therese Singleton: Therese is the General Manager, Advice and Sales, at AMP.

Key documents

The terms of reference for the Group [PDF, 223 KB] 

A summary about how the Code Working Group will operate [PDF, 142 KB]