News Round Up

The Securities Commission has set up a website to help people understand changes to securities law which take effect around the middle of 2007.

“Securities market participants and all people who give investment advice to the public will need to comply with the new law,” says General Counsel Liam Mason.

Of particular interest to financial advisers are the law changes relating to disclosure. Under the new laws investment advisers have new disclosure requirements about themselves, their fees and commissions, and the types of investment they give advice on.

“The Commission expects the law to come into force around the middle of this year after regulations are passed,” Mason says. “The regulations will contain some exemptions and further detail of the law.”