[GRTV] Code gets eight out of 10 from long-time critic

The new code of conduct for financial advisors has finally been approved and joining me is Murray Weatherston. Now Murray is an AFA. He also was the Chairman of SIFA for quite a while. And as readers of Good Returns would know, he has a lot to say about the Code and the process which has been developed and how it's gone. Welcome Murray. Great to have you in the studio.

Thanks, Phil.

So a score out of ten, now we've got the code. How do you rate it, what number?

Oh I would think with what we've ultimately ended up with, it's got to be at least an eight out of ten. Maybe even more. It's not so much anymore the stuff that they were trying to put in, but I think there's probably a few areas where the Code will actually prove to be lacking. And where the FMA as the monitor will be anxious to whack some guidance notes in.