Four Cabinet papers on the regulations to implement the Financial Advisers Act (FAA) and the Financial Service Providers (Registration and Dispute Resolution) Act (FSPA) have been publicly released.
They cover the:
disclosure that will be required of financial advisers
proposed new regime for regulating investment transactions
information that will be required for the new financial service providers register, and
fees that will be payable by financial advisers and financial service providers.
This Brief Counsel summarises the contents of the key Cabinet decisions, and a further Ministry of Consumer Affairs discussion document on reserve dispute resolution levies.
Please click on the link above to view the pdf.