FMA has eye on commissions
Rob Everett spoke to the Infinz AGM in Auckland yesterday, at which he said the regulator would be setting high expectations of conduct for the industry.
He said conduct regulation in financial services was new to New Zealand, but that there was a steadily increasing focus on quality conduct, to build consumer trust, as a result of the Financial Markets Conduct Act.
Everett said the FMA had identified priority areas to tackle, where there was the potential for low-quality conduct and lesser-quality outcomes.
They included variable quality of advice to consumers and investors, including among QFEs, AFAs sand RFAs, constraints on access to advice for consumers and investors, including when making KiwiSaver decisions, and shortcomings in investors’ understanding of products.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] Research shows KiwiSaver is a key issue in the election; GRTV Special looks at what's on offer.](https://goodreturns.publit.io/file/c_fill,w_300,h_200/36b7de93-7b53-4a06-855a-4a8f4009a280.webp)
