Financial services sector questioned regulation draft
MBIE has made public submissions on the disclosure regulations exposure draft.
The now-finalised regulations will take effect on March 15, when the new financial advice regime comes into force.
While the industry was generally supportive of what was intended when draft regulations were circulated late last year, some concerns were raised.
The regulations have three parts: The information about a financial advice provider that needs to be on its website to ensure that consumers could choose a FAP that suits their needs, more information given when the nature and scope of advice is known, and a final tranche of disclosure when the advice is given.
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