The ABC of authorisation
He says advisers have certainty around three areas: what the Financial Advisers Act requires, what must go in their Adviser Business Statement, and what the conduct and competence requirements of the Code are.
"I think of that as ABC - Act, Business Statement and Code."
He says the next three things - D, E and F - now need to be done: join a Dispute Resolution Scheme, enrol with ETITO and get Financial Service Provider registration or authorisation on the financial services providers register.
He says authorisation applications must be made no later than 31 March for advisers to be authorised by 01 July 2011, but there are lead times for competence examinations and for criminal checking which is part of the registration process.
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