News

Advice penalties increase

Tuesday 13th of February 2018

As part of the Financial Services Legislation Amendment Bill, the possible penalties that can be levied on financial advisers are being brought in line with the rest of the Financial Markets Conduct Act.

Financial services lawyer David Ireland said, as a general rule, under the Financial Advisers Act (FAA), the penalty for "serious" breaches worked out at $100,000 for an individual and $...

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