Changes to the Code of Professional Conduct for Authorised Financial Advisers have been given the green light.
“The Code Committee has worked with industry to provide further clarification for advisers around their scope of service," Commerce Minister Paul Goldsmith said.
“The changes aim to improve access to personalised advice, so that more New Zealanders can get advice that is tailored to their wants and needs.
“A robust code of conduct provides reassurance to New Zealanders that their financial adviser is bound by strong ethics and their advice can be trusted."
Proposed changes to the financial adviser regime, announced in July, will see a Code Committee consult on a new Code of Conduct for all those providing advice after the legislative process is completed.
“This is in line with government objectives to improve the quality of financial advice in New Zealand,” Goldsmith said.
The changes will come into force on December 1.
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