Weekly Wrap: Are you ready for new laws?

There's only 21 days to go until new disclosure rules for advisers come into effect. Are you ready?

Friday, February 8th 2008, 4:57PM

To help you with the changes, this month's issue of ASSET Magazine has a major feature on the topic, called: See Through Advice – Industry prepares to bare all. Also in ASSET are some more guidelines from the Securities Commission on the disclosure changes.

If you are not a subscriber, but would like to find out more, then email us here.

Related to the changes is a story on Good Returns about two new dealer groups being established in the market. One reckons it will be the biggest in the market, and both say the establishment of the networks is being driven by regulatory changes.

Another useful story is in the Insurance News section: Who do risk advisers work for?

Legislation to be introduced into Parliament next month will tie financial advisers more closely to insurers. Commerce Minister Lianne Dalziel says the Insurance Bill will tidy up a number of problems in the insurance area.

As a Weekly Wrap reader we sent you an invite to participate in the first Adviser Pulse survey. As the name suggests, the survey is designed to get the pulse of the market and find out how you're all feeling about various issues. If you haven't completed the survey yet, then do it now. Click here to take part.

We have more KiwiSaver numbers this week. The government is trumpeting the sign-up levels, which are now past the 400,000 mark.

KiwiSaver calculator all sorted - yeah right!
Working out the fees on KiwiSaver funds is something it seems, even the experts can't do. [more]

AXA has appointed someone well known to risk advisers to head up its distribution. Details are here.

Of course a Weekly Wrap wouldn't be complete without a few stories about finance companies and fixed interest investments. This week we have an update on Fortress Notes - you could say the walls of the Fortress have been breached. Also, we update you on what is happening with the Absolute Capital clean up and PINS.