Working group outlines new code's principles
A working group is developing the new code, which will come into force as part of the implementation of the Financial Services Legislation Amendment Bill.
The group has issued a blog about the draft principles it is working with, after its initial round of consultation with focus groups.
The code will be especially important under the new regime because it will be the document that tailors the wider rules to each individual subset of advisers.
It said the focus group discussions considered how the code should differentiate between different types of advice when it was setting standards for particular competence, knowledge and skills.
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