Regulations to support the Financial Services Legislation Amendment Act
The Financial Services Legislation Amendment Act introduces a new regulatory regime for financial advice.
It amends the Financial Markets Conduct Act and also makes changes to the registration requirements for the Financial Service Providers Register. A number of regulations need to be made to support the measures in the Act.
In this section
We are now seeking feedback on draft regulations that will set the disclosure requirements that will apply in the new regime. These regulations give effect to Cabinet policy decisions made in February 2019.
In October 2019 the regulations that set the licensing fees and the FMA levies that will apply in the new financial advice regime were made.
On 17 June 2019 Cabinet agreed to measures to prevent the misuse of the Financial Service Providers Register (FSPR).
On 17 June 2019 Cabinet agreed to various other regulations required to implement the Financial Services Legislation Amendment Act.