Commission recommends compliance by the book
Angus Dale-Jones, Securities Commission director of supervision, said the 'Compliance programmes standard' released by Standards New Zealand late in April would provide "useful guidance for anyone subject to regulation".
"It is particularly timely for financial advisers seeking authorisation as over the next 12 months they will have to put in place systems to deal with the requirements of the Code Committee, as well as with their terms and conditions of authorisation under the Financial Advisers Act," Dale-Jones said in the bulletin.
The compliance programme standard was based on the Australian version with only a slight variation to make it adaptable to New Zealand conditions.
In a statement, Martin Tolar, ceo of the Australasian Compliance Institute, which sponsored the adoption of that standard in New Zealand, said the compliance programme standard was a voluntary guideline designed to help organisations "customise and develop their own compliance systems".
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