Regulation
FMA: We don't expect many personalised DIMS authorisations
Wednesday 26th of November 2014
Under the new Financial Markets Conduct Act (FMCA), all providers of DIMS will have to be licensed to offer class DIMS, or authorised under the Financial Advisers Act (FAA) to offer personalised DIMS.
Director of compliance Elaine Campbell said the FMA’s understanding was that very few AFAs were providing a personalised DIMS service at present. The majority were using a model portfolio....
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