FMA ponders advice exemptions
Regulators are pondering what exemptions to the Financial Markets Conduct Act will be needed to support the effective operation of the new financial advice regime.
The Financial Markets Authority has issued a new consultation document ahead of the new rules coming into force next June.
“There may be some areas where we need to use our legislative tools (exemptions, designations, and frameworks or methodologies) to modify the standard requirements to support the effective operation of the new regime," it said.
It said it would generally be appropriate for standard requirements to apply to everyone giving financial advice.
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