Code flashes amber, consultation ahead
The Code, which was originally due to be finalised in the first quarter of this year, would now require a "short period of targeted consultation" after the new amendments were introduced, Butler said.
"[The Code Committee] is meeting on Monday [to discuss the implications]," he said. "Our intention is that the moment the legislation goes through - which should be in a couple of weeks - we'll need a quick round of consultation."
Butler said while the further consultation may push out the final approval of the Code, that would not flow into the other parts of the regulation timetable - the December 1 registration date or the July 1, 2011 full start deadline for the adviser regulatory regime.
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