Regulation

AFAs have to disclose remuneration, but not RFAs

Tuesday 9th of November 2010

Securities Commission director supervision Angus Dale-Jones says the core legislation in the Financial Advisers Act (FAA) allowed for prescribed fees disclosure for RFAs, but it didn't go that far in its decision.

AFAs however, have to provide comprehensive fees and commission disclosure with the prescribed form saying:

"I am required to tell you the specific fees, commissions, ex...

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