[Weekly Wrap] Regulation still a key concern
Philip attended the SiFA conference in Napier, and we were both at the PAA conference at Sky City and the IFA conference at Waipuna, Mt Wellington.
Talking to advisers, one of the most common things that comes up in conversation is regulation - and whether the rules are being applied fairly and effectively.
At the IFA conference, FMA chief executive Sean Hughes responded to concerns about banks' KiwiSaver sales practices. Many advisers across all the conferences held the view that there seemed to be one set of rules for banks and another - a lot more stringent - for financial advisers.
But many thought that Hughes was being a bit cheeky when, at the PAA, he asked advisers to dob in other people in the sector who weren't adhering to the rules. We had commentators questioning if that's really their role - or perhaps something that's better left to the regulators.
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